CF/Yellow Merger Rumored
December 16, 1998
Dec. 17 – The Journal of Commerce reported Tuesday that rumors of a possible merger between LTL giants Yellow Corp. and Consolidated Freightways Corp. led to heavy trading in both company’s stocks.
Such a merger would create the second-largest trucking company in the world, the paper says, right after UPS. The Teamsters union represents employees for both companies. Both companies have been battling increased competition, from non-union LTL carriers, from package carriers such as UPS, and from companies that traditionally hauled only truckload freight.