Estes Express Acquires Yellow's Terminals for $1.3 Billion

Estes Express Lines has offered $1.3 billion to purchase all of bankrupt trucking company Yellow Corp.'s terminals, in a bid that could serve as the starting price for an auction. Yellow Corp., which filed for bankruptcy earlier this month, plans to sell its tractor-trailers as well. If Estes Express Lines is outbid, it will have to increase its offer or miss out on the deal. The sale would expand Estes' terminal network and potentially lead to workforce and truck fleet expansions. Yellow Corp. is also set to receive bankruptcy loans from Citadel and MFN Partners.