$1.5B Bid for Yellow Trucking

Benzinga
Benzinga
  • last year
Old Dominion Freight Line has submitted a bid of $1.5 billion to acquire the North American holdings of the newly bankrupt Yellow Trucking. Old Dominion Freight Line's bid may trigger a court-supervised auction and would give the winning bidder access to 169 trucking terminals while providing Yellow the funds to address pre-chapter 11 debts. Yellow faced financial challenges due to debt and labor conflicts, with a bankruptcy filing showing up to $10 million in assets and liabilities. The company received a $700 million bailout from the Trump administration to protect its workforce and is now working to repay it.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 Old Dominion Freight Line has submitted a bid of $1.5 billion to acquire the North American
00:07 holdings of the newly bankrupt Yellow Trucking.
00:10 Old Dominion Freight Line's bid may trigger a court-supervised auction and would give
00:14 the winning bidder access to 169 trucking terminals while providing Yellow the funds
00:19 to address pre-Chapter 11 debts.
00:22 Yellow faced financial challenges due to debt and labor conflicts, with a bankruptcy filing
00:26 showing up to $10 million in assets and liabilities.
00:29 The company received a $700 million dollar bailout from the Trump administration to protect
00:33 its workforce and is now working to repay it.
00:35 For all things money, visit Benzinga.com.
00:37 [BLANK_AUDIO]

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