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The Greenwich, Conn.-based contract logistics firm posted net income of $100 million, or 83 cents a diluted share, for the three months ending Dec. 31.

The transportation sector saw merger and acquisition activity gain momentum as market conditions stabilized in the second half of 2024, according to experts.

M&A specialists are eyeing a robust list of U.S. takeover candidates, with a buoyant economy, strong buyer appetite and a potentially looser regulatory regime seen driving more deals.

“I want to have a stake in something that I’m going to be involved in,” Alan Kestenbaum said Jan. 27 in an interview. “If I get the chance to run the show, I’ll invest in myself.”

Forward Air’s board will undertake a review of the asset-light transportation and logistics services provider’s strategic alternatives, including a sale of the company and other options.

Exxon’s claim of right-of-first-refusal to Hess’ 30% stake in Guyana’s Stabroek block is “baseless” and “without merit,” CEO John Hess said at a Goldman Sachs Group Inc. conference Jan. 7.

The proposal is aimed at addressing concerns raised by CFIUS, which said last week that the Japanese company’s takeover of U.S. Steel would lead to a decline in American steel output.

After initially soaring more than 60% since Dec. 17, a day before news of the deal broke, the stock tumbled on Dec. 27 as investor focus turned to the starting ratio for a Honda-Nissan tie-up.

The bid for the once-fabled American company ran into a maelstrom of political opposition in the U.S. in the run-up to the presidential election.

A judge blocked Kroger's $24.6 billion acquisition of Albertsons Cos., finding the takeover would lessen competition for grocery shoppers in a ruling that marks a likely death knell for the deal.