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FedEx to separate FedEx Freight, create two public companies.
With revenue of $9.4bn in FY2024, FedEx Freight is largest less-than-truckload (LTL) carrier with fastest transit times.
The Board of Directors of FedEx has approved a proposal to pursue a full separation of FedEx Freight through the capital markets, creating a new publicly traded company.
The separation is expected to be achieved in a tax-efficient manner for FedEx stockholders and executed within the next 18 months, says an official release.
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