FedEx has decided to spin off its freight trucking division, moving to streamline its structure and unlock value that some shareholders argue has been lost inside the delivery giant. FedEx Freight is the largest less-than-truckload operator in the country, with more than 30,000 vehicles and 350 facilities in North America that move cargo for retailers, manufacturers and other shippers. FedEx said its board had decided to spin off the business as a separate public company with a goal of completing the separation within 18 months.