RTR Exclusive: Trucking firm prepares long-shot bid for Yellow, seeks US Treasury support

REUTERS reports:

One of the largest U.S. privately owned auto transport companies is quietly mounting a long-shot bid – with increasing interest from the Biden administration – to rescue trucking giant Yellow Corp (YELLQ.PK) from bankruptcy liquidation and bring back some 30,000 union jobs, according to multiple sources familiar with the discussions.

The previously unreported effort by Jack Cooper Transport, a trucking company that counts General Motors (GM.N), Ford (F.N) and Stellantis (STLAM.MI) as its main customers, has gained steam in recent weeks as the powerful International Brotherhood of Teamsters union and a bipartisan group of U.S. senators stepped up their pressure campaign on the Biden administration…

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