Transportation Industry
Yellow Roadway Completes $1.47 Billion USF Acquisition
Transport Topics, May, 2005 by Reiskin, Jonathan S
Yellow Roadway closed its $1.47 billion acquisition of USF Corp. May 24, bolstering its standing as the nation's largest less-than-truckload carrier, and unveiling a structure for its new capacity to offer shorthaul deliveries on a nationwide basis.
The No. 3 company on the TRANSPORT TOPICS 100 list of the largest U.S. and Canadian for-hire carriers also raised its guidance on earnings per share for the year, but cut its prediction for second-quarter profits.
Yellow Roadway also said that USF Chairman Paul Liska would join its board of directors, but acting USF Chief Executive Officer Thomas Bergmann would leave the company in June. USF had ranked No. 12 on the TT 100 list.
The acquisition, announced by Yellow Roadway on Feb. 27 (3-7, p. 1), was completed the day...
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