FedEx board approves spin off of FedEx Freight
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Background ✨
FedEx previously said it planned a full separation of FedEx Freight via the capital markets within 18 months, with FedEx Freight retaining its brand and FedEx and FedEx Freight maintaining continuity through commercial agreements.1 FedEx said its consolidated results were pressured by weaker FedEx Freight revenue and profit amid subdued US industrial production and less-than-truckload demand.2