WASHINGTON — XPO has won a bid to purchase 28 of Yellow’s service centers for $870 million, according to a Reuters report.
Yellow filed for bankruptcy in August after a dispute with the Teamsters.
The company announced it was shutting down on July 30.
The deal will add “significant footprint in areas where XPO was previously capacity constrained, the path towards the company’s 2027 goals,” Jonathan Chappell, an analyst at Evercore ISI, told Reuters.
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.