Yellow Roadway Completes Acquisition of USF Corp.
ellow Roadway Corp. said Tuesday it completed the $1.37 billion acquisition of USF Corp.
The deal, announced by the two less-than-truckload carriers Feb. 27, was amended by Yellow Roadway May 2 when it changed the cash component from a 50-50 cash-stock deal to 65% cash and 35% stock.
That change eliminated the need for Yellow Roadway’s stockholders to approve the deal. USF’s stockholders approved the deal Monday.
Yellow Roadway had revenue of $6.8 billion last year, its first year as a combined company since Yellow Corp. and Roadway Corp. merged in December 2003.
USF had revenue of $2.4 billion last year. Yellow Roadway was ranked No. 3 in the 2004 Transport Topics 100 listing of North American for-hire carriers. USF was ranked No. 12.