Yellow-Roadway merger complete

| 12/15/2003

Yellow Corp. finalized its acquisition of Roadway Corp. Dec. 11, the company said in a statement.

The combination of the two less-than-truckload giants, approved by shareholders Dec. 9, creates a single corporation with more than $6 billion in annual revenue.

Before 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.

The acquisition/merger agreement is valued at $1.05 billion, according to a filing with the Securities and Exchange Commission quoted by the Kansas City Business Journal.

The LTL 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.