Corp. finalized its acquisition of Roadway Corp. Dec. 11, the company said
in a statement.
of the two less-than-truckload giants, approved by shareholders Dec. 9,
creates a single corporation with more than $6 billion in annual revenue.
the merger, Yellow, which is based in Overland Park, KS, reported it had
8,000 tractors and 35,000 trailers, while Roadway reported it had more
than 10,000 tractors and more than 36,000 trailers.
agreement is valued at $1.05 billion, according to a filing with the Securities
and Exchange Commission quoted by the Kansas City Business Journal.
sector has seen several shakeups recently. LTL freight has been dominated
for years by Yellow, Roadway and Consolidated Freightways. Consolidated
Freightways, which had been the nation's third-largest trucker, closed
and filed for bankruptcy protection last September. And Overnite, another
large LTL firm, is now up for sale by its parent company, Union Pacific.