FW: Estes sets new floor of $1.525B for Yellow terminals

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By LoadstarEditorial

14/09/2023

FREIGHTWAVES reports:

Private less-than-truckload carrier Estes Express Lines’ new bid of $1.525 billion for Yellow’s terminals is now the front-runner, court documents revealed Wednesday.

A filing in a Delaware bankruptcy court showed the carrier entered a stalking horse offer eclipsing the $1.5 billion bid made by rival Old Dominion Freight Line (NASDAQ: ODFL). Estes started the bidding war in mid-August when it made a $1.3 billion offer.

The motion showed Yellow has designated the Estes offer as the best so far and requested the court ...

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