Roadway Corp. and Yellow Corp. have received second requests for additional information from the Department of Justice (DOJ) in connection with the proposed acquisition of Roadway by Yellow.
Bill Zollars, chairman, president and CEO of Yellow Corp., said, "As we expected, today Yellow and Roadway received second requests. Given the size and scope of the transaction and the importance of our two companies and brands in the transportation industry, the Department of Justice has requested additional information from both companies relevant to the proposed acquisition.
"Both companies are already working expeditiously to respond to the request. We have every reason to believe that we will complete the transaction in a timely manner."
Yellow agreed last month to buy Roadway for $966 million.
Bill Zollars, chairman, president and CEO of Yellow Corp., said, "As we expected, today Yellow and Roadway received second requests. Given the size and scope of the transaction and the importance of our two companies and brands in the transportation industry, the Department of Justice has requested additional information from both companies relevant to the proposed acquisition.
"Both companies are already working expeditiously to respond to the request. We have every reason to believe that we will complete the transaction in a timely manner."
Yellow agreed last month to buy Roadway for $966 million.
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