Yellow Expands Its Network With $200 Million Bid for Jevic

Yellow Corp. found a Midwest and Northeast anchor for its emerging nonunion regional trucking network.

It is Jevic Transportation, a publicly owned regional and inter-regional less-than-truckload and truckload carrier based in Delanco, N.J.

On June 7, Jevic’s board of directors recommended that shareholders accept a buyout by Yellow of all Jevic stock at $14 a share, or $161 million.

The total value of the offer, including debt assumption, is about $200 million. Yellow said it will borrow the money to complete the transaction.

The deal is supported by Jevic’s management, which controls 53% of the outstanding shares.

Industry analysts generally applauded the deal, saying the addition of a profitable regional carrier should boost Yellow’s profits and give its stock a lift.

For the full story, see the June 14 print edition of Transport Topics. Subscribe today.

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