Yellow-Roadway merger clears hurdle
OVERLAND PARK, Kan. (Nov. 19, 2003) — The waiting period to review whether Yellow Corp.’s acquisition of Roadway would eliminate or reduce competition has expired, prompting the U.S. Department of Justice Antitrust Division to announce yesterday that it will take no enforcement action against Yellow Corp. over the merger.
The news paves an open road for the deal to be finalized when stakeholders meet on Dec. 9, to consider approval of the transaction.
Yellow acquired Roadway in July for $1.1 billion, a creating a world trucking and shipping powerhouse. If the deal goes through, the merged company, named Yellow-Roadway, would control more than 15 per cent of the entire less-than-truckload market in the U.S.
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