Méga fusion aux USA entre Yellow et Roadway.
Yellow Corporation to Acquire Roadway Corporation for $966 Million
• Combined Yellow-Roadway Company Creates One of the World's Largest Transportation Service Providers - - Transaction Expected to Be Accretive After the First Year, Yielding Annual Cost Synergies of $45 Million -
OVERLAND PARK, Kan. and AKRON, Ohio, Jul 8, 2003 /PRNewswire-FirstCall via COMTEX/ -- Yellow Corporation (Nasdaq: YELL) and Roadway Corporation (Nasdaq: ROAD), two of the most widely recognized brand names in the transportation industry, today announced they have entered into a definitive agreement under which Yellow Corporation will acquire Roadway Corporation for approximately $966 million, or $48 per share (based on a fixed exchange ratio and a 60-day average price per share of $24.95 for Yellow common stock in a half cash, half stock transaction). This represents a 49 percent premium for Roadway shares based on the 60-day average closing price of Roadway stock. Yellow Corporation will also assume an expected $140 million in net Roadway indebtedness, bringing the enterprise value of the acquisition to approximately $1.1 billion.
The combined enterprise, which will be known as Yellow-Roadway Corporation, will be one of the largest transportation service providers in the world, with the ability to move shipments domestically and internationally. Yellow-Roadway will be the largest U.S.-based transportation service provider with a focus on big shipments for business-to-business customers. The combined revenue of both companies for the twelve months ending the first quarter of 2003 was nearly $6 billion.
Lire la suite sur le site de Yellow :
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=yell&script=410&layout=-6&item_id=429229
Yellow Corporation to Acquire Roadway Corporation for $966 Million
• Combined Yellow-Roadway Company Creates One of the World's Largest Transportation Service Providers - - Transaction Expected to Be Accretive After the First Year, Yielding Annual Cost Synergies of $45 Million -
OVERLAND PARK, Kan. and AKRON, Ohio, Jul 8, 2003 /PRNewswire-FirstCall via COMTEX/ -- Yellow Corporation (Nasdaq: YELL) and Roadway Corporation (Nasdaq: ROAD), two of the most widely recognized brand names in the transportation industry, today announced they have entered into a definitive agreement under which Yellow Corporation will acquire Roadway Corporation for approximately $966 million, or $48 per share (based on a fixed exchange ratio and a 60-day average price per share of $24.95 for Yellow common stock in a half cash, half stock transaction). This represents a 49 percent premium for Roadway shares based on the 60-day average closing price of Roadway stock. Yellow Corporation will also assume an expected $140 million in net Roadway indebtedness, bringing the enterprise value of the acquisition to approximately $1.1 billion.
The combined enterprise, which will be known as Yellow-Roadway Corporation, will be one of the largest transportation service providers in the world, with the ability to move shipments domestically and internationally. Yellow-Roadway will be the largest U.S.-based transportation service provider with a focus on big shipments for business-to-business customers. The combined revenue of both companies for the twelve months ending the first quarter of 2003 was nearly $6 billion.
Lire la suite sur le site de Yellow :
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=yell&script=410&layout=-6&item_id=429229