FedEx Freight spin-off completed from FedEx
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This spin-off makes FedEx Freight an independent listed company, focusing on the North American less-than-truckload (LTL) transportation business. Notably, the new company will become the largest LTL carrier for small and medium-sized enterprises in North America. FedEx Freight’s business covers the United States, Canada, Mexico, Puerto Rico, and the U.S. Virgin Islands, operating about 355 service centers, 30,000 vehicles, and 39,000 employees. The equity record date for this spin-off is May 15, allowing investors a few days to lock in FedEx Freight shares without having to wait to purchase them on the open market.
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