NASHVILLE — Estes Express has offered a bid of $1.3 billion for bankrupt Yellow Corp’s shipping terminals, according to attorneys at an Aug. 17 hearing in U.S. bankruptcy court.
Instead of accepting Estes’ initial offer to provide a loan as part of its bid, Yellow is instead receiving a loan from Citadel and MFN Partners, according to financial reports.
If Yellow accepts Estes’ bid, Estes will own more than 270 terminals.
Yellow also plans to sell its tractors and trailers, which are not part of the Estes deal.
Yellow has 180 days to entertain higher bids for its real estate assets and fleet of trucks.
Born in Pine Bluff, Arkansas, and raised in East Texas, John Worthen returned to his home state to attend college in 1998 and decided to make his life in The Natural State. Worthen is a 20-year veteran of the journalism industry and has covered just about every topic there is. He has a passion for writing and telling stories. He has worked as a beat reporter and bureau chief for a statewide newspaper and as managing editor of a regional newspaper in Arkansas. Additionally, Worthen has been a prolific freelance journalist for two decades, and has been published in several travel magazines and on travel websites.
