hit counter html code

Old Dominion is bidding $1.5 billion on the Yellow stations

Old Dominion beats Estes' offering of Yellow stations.  (Photo: Jim Allen/Free Waves)

Old Dominion beats Estes’ offering of Yellow stations. (Photo: Jim Allen/Free Waves)

Old Dominion Freight Line, which has less than a truckload, has entered into a $1.5 billion bid for Yellow Corp.’s terminals. The new show Bid price exceeds $1.3 billion from LTL peer Estes Express Lines, which was revealed in Thursday’s status update.

The 166-station portfolio offering is a stalking horse purchase agreement, in which the bidder sets a minimum value of the assets to be sold from the bankruptcy estate. The properties will still be subject to a marketing and sales process in which higher bids from third parties can be accepted.

The terms provide for a maximum breakup fee of $26 million and up to $2 million in reimbursement of expenses. Old Dominion (NASDAQ: ODFL) requires a 5% deposit. The bid will remain valid for 180 days.

Thursday’s court action also identified the bankruptcy financing lenders.

Hedge funds Citadel and MFN Partners will provide $142.5 million in debtor-in-possession (DIP) financing, which will give the Yellow estate the funds to liquidate the assets. The transaction also includes an additional deferred drawing commitment from MFN of up to $70 million.

MFN acquired 42.5% of the shares in Yellow prior to its offering close.

castle recently Buy a Yellow loan for a term from Apollo Global Management (NYSE: APO) after submitting superior DIP financing offers following Yellow’s Aug. 7 filing for bankruptcy. The Apollo DIP deal was said to be the only viable offer made to Yellow prior to the Chapter 11 petition.

A representative from Old Dominion could not immediately be reached for comment.

More Shipping Waves articles by Todd Maiden

the post Old Dominion is bidding $1.5 billion on the Yellow stations Debuted charging waves.

Related Posts

If you think “best online slots” means easy wins and fast cash, you’re already standing on the edge. The chase for massive jackpots, flashy bonuses, and endless…

Free Blackjack Gamings: Where to Play and How to Win

The casino wants you to believe it always wins. But blackjack is different. Behind the bright screens and “free play” buttons, thousands of players are quietly training,…

The trap is already closing before you even know you’ve stepped inside. What feels like a harmless game is calibrated to your psychology, your impulses, your blind…

SlotWolf Casino Freispiele ohne Einzahlung

Es beginnt mit einer scheinbar harmlosen Anmeldung. Ein Klick auf „Jetzt spielen“, ein Bonus ohne Einzahlung – und plötzlich bewegen Sie sich in einer Grauzone, von der…

N1 Casino Test 2026 400 bonus

Die Wahrheit über Casinos ohne deutsche Lizenz ist brutaler, als die Werbung verspricht. Höhere Einsätze, mehr Boni – und ein Risiko, das viele erst merken, wenn es…

Пин Ап Казахстан: Как играть в онлайн игру на реальные деньги?

Пин Ап Казахстан: Как играть в онлайн игру на реальные деньги? Пин Ап Казахстан – это платформа, которая позволяет азартным игрокам наслаждаться разнообразными играми и зарабатывать реальные…

Leave a Reply

Your email address will not be published. Required fields are marked *