12/06/2023

XPO to Buy Bankrupt Yellow's Service Centers for $870 Million

They will purchase 28 service centers

Trucking company XPO won a bid to buy 28 service centers of bankrupt Yellow Corporation for $870 million in a closely watched auction of the nearly 100-year-old firm's assets.

XPO shares were down 3.8 percent in morning trade amid weakness in broader markets.

Yellow, formerly known as YRC, filed for Chapter 11 bankruptcy protection in August after blaming the International Brotherhood of Teamsters union for its demise.

Please select this link to read the complete article from Reuters.