FedEx Finalizes Freight Division Spin-Off into Independent LTL Carrier
FedEx has successfully completed the spin-off of its less-than-truckload (LTL) division, FedEx Freight. The unit will now operate as a standalone, publicly traded company known as F.F. Corporation. This separation was executed through a transaction with the special purpose acquisition company, Knight-Swift Transportation Holdings. The move is a significant part of FedEx's broader DRIVE transformation program, which aims to improve efficiency and long-term profitability. By divesting the freight business, FedEx intends to sharpen its focus on its core express, ground, and parcel delivery services.
Official Source: https://www.stattimes.com/aviation/fedex-completes-freight-spin-off-as-independent-ltl-carrier-1359325