FedEx announced on Wednesday that its Board of Directors approved the separation of its FedEx Freight business. FedEx Freight handles "less-than-truckload" shipping, or goods that are too large for standard parcel delivery, but not heavy or large enough to fill an entire semi-truck.
FedEx's stockholders will receive one share of the new FedEx Freight common stock for every two shares of FedEx common stock they own. "Stockholders will receive cash in lieu of fractional shares of FedEx Freight common stock," the delivery giant added.
FedEx Corporation will retain a 19.9% stake in the newly formed company, which it plans to dispose of over the 24 months following the spin-off. Following the separation, FedEx Freight common stock will begin trading on the New York Stock Exchange on June 1, 2026, under the symbol "FDXF."
https://breakingthenews.net/Article/FedEx-board-approves-spin-off-of-FedEx-Freight/66287996
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