FedEx finalizes the separation of its freight division, establishing it as a standalone LTL carrier.

FedEx Corp. has successfully spun off FedEx Freight, creating two independent public companies. FedEx Freight, now focused on the North American less-than-truckload (LTL) market, began trading under the ticker FDXF, while FedEx continues under FDX. The separation involved distributing 80.1% of FedEx Freight's stock to FedEx shareholders. FedEx retains a 19.9% stake, which it plans to sell within two years. This restructuring allows both companies to concentrate on their respective markets, enhancing their growth potential and operational focus.