FedEx Completes Spin-Off of FedEx Freight
FedEx Corp. has completed the spin-off of FedEx Freight, distributing 80.1% of the LTL unit's shares to existing FDX holders on a one-for-two basis. FedEx Freight begins trading independently on the NYSE under ticker FDXF, while FedEx retains a 19.9% stake it plans to dispose of within 24 months via debt repayment or further distributions.
Key figures
- Spin off ratio
- 1 share of FDXF for every 2 shares of FDX
- Fdx retained stake
- 19.9%
- Fdx distributed stake
- 80.1%
- Annual revenue inclusive
- $92 billion
AI analysis
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