ºÚÁϳԹÏÍø

Soaring diesel prices are likely to push more trucking companies out of business, especially smaller carriers, after casualties already spiked in the first two-thirds of the year.

Analysts are expecting more players to take part in an upcoming auction for the 169 terminals owned by Yellow Corp. beyond those who already have raised their hands.

Trucking company Old Dominion Freight Line Inc. has offered $1.5 billion to acquire Yellow Corp.’s 169 terminals out of bankruptcy, more than a previous offer from Estes Express Lines.

Estes Express Lines is in line to buy the terminals of bankrupt less-than-truckload rival Yellow Corp. after submitting a $1.3 billion bid, a court heard Aug. 17.

An affiliate of Ken Griffin’s Citadel has acquired roughly $485 million in Yellow Corp. debt previously owned by Apollo Global Management and other lenders to the bankrupt trucking firm.

Lordstown Motors Corp. has agreed to pay $40 million to settle a Karma Automotive lawsuit alleging that the company lifted designs and technology to develop its flagship Endurance truck.

Yellow Corp. continues to work with potential financiers, including Estes Express Lines, who are offering more affordable alternative bankruptcy financing for the LTL trucking company.

Yellow Corp. has sparked a bidding war between investment firms and a rival trucking company interested in funding the now-shuttered company’s liquidation.

Florida-based Western Global Airlines filed for bankruptcy protection with plans to slash its debt load after the cargo airline faced a cash crunch.

Yellow Corp. on Aug. 7 announced it was seeking Chapter 11 bankruptcy protection and entering into an agreement that would secure sufficient financing to wind down operations.