Yellow, Roadway are asked for more information
Aug 19, 2003 12:00 PM
Yellow Corp. and Roadway Corp. said they have received requests for additional information from the Dept. of Justice in connection with the proposed acquisition of Roadway by Yellow. "Given the size and scope of the transaction and the importance of our two companies and brands in the transportation industry, the Dept. of Justice has requested additional information from both companies relevant to the proposed acquisition," said Yellow president & CEO Bill Zollars. "Both companies are already working expeditiously to respond to the request. We have every reason to believe that we will complete the transaction in a timely manner," he said. Yellow announced last month that it would purchase Roadway in a deal that will be worth $1.1 billion. Roadway will be an operating entity of the merged holding company.
