The U.S. Department of Justice Antitrust Division announced Tuesday that it will take no enforcement action against Yellow Corp. in its $1.1 billion acquisition of Roadway Corp.
The waiting period to review whether the acquisition would eliminate or reduce competition has expired.
"We have satisfied another important condition required to complete the acquisition of Roadway by Yellow Corp," said James D. Staley, president and CEO of Roadway. "We look forward to the timely closing of this transaction and the future opportunities it presents for our new company."
Roadway and Yellow are each scheduled to hold special stockholder meetings on Dec. 9, 2003 to consider approval of the transaction.
Assuming stockholder approvals are obtained and Yellow successfully completes its financing for the transaction, the Roadway transaction could close as early as Dec. 11, 2003.
The waiting period to review whether the acquisition would eliminate or reduce competition has expired.
"We have satisfied another important condition required to complete the acquisition of Roadway by Yellow Corp," said James D. Staley, president and CEO of Roadway. "We look forward to the timely closing of this transaction and the future opportunities it presents for our new company."
Roadway and Yellow are each scheduled to hold special stockholder meetings on Dec. 9, 2003 to consider approval of the transaction.
Assuming stockholder approvals are obtained and Yellow successfully completes its financing for the transaction, the Roadway transaction could close as early as Dec. 11, 2003.
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