NEW YORK, N.Y. — While company officials are calling the proposed purchase of Roadway Corp. by Yellow Corp. “the right transaction at the right time with the right partner”, the powerful Teamsters union is taking a more cautious approach.
“Should this arrangement proceed, the potential impact on tens of thousands of Teamsters at Yellow, Roadway and other unionized carriers is the union’s primary concern. With public details of the proposal limited, the Teamsters Union is proceeding cautiously in order to protect the interests of its members,” Teamsters said in a release this morning.
Initial reports indicate that the two companies intend to maintain their brand names and operate separately for a period of years, although specific details of an eventual physical merger are not known.
In order to gain a greater understanding of the proposal, Teamsters General President Jim Hoffa and Vice President and Assistant Freight Director Tyson Johnson are meeting with the CEOs of both companies today July 9, 2003 in Washington.
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