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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.

Ex-Yellow drivers who qualified for NTDC have been on an emotional roller coaster since learning their jobs were eliminated, but the trucking community has raised funds and their spirits. 

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.

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.

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.

Less-than-truckload carrier Yellow Corp.'s ceasing of operations on July 30 after nearly 100 years in business is causing an upheaval for both its customers and the broader LTL market.

Creditors led by Apollo Global Management Inc. are nearing a deal to provide Yellow Corp. with fresh cash during a coming bankruptcy, according to people with knowledge of the matter.

Less-than-truckload company Yellow shut down operations, ending a nearly 100-year history as one of the nation’s largest carriers, and the company began posting notices at terminals.