Yellow Corporation filed a notice for the selection of Successful Bidder and an asset purchase agreement in the US Bankruptcy Court for the sale of its certain assets on February 12, 2024. As a result of the auction conducted on December 18, 2023, and December 19, 2023, Knight-Swift Transportation, Inc. has been selected as the winning bidder for the sale of debtor?s certain assets. The debtor?s assets include 10 leased properties.

As per the agreement, debtor seeks the Court?s approval for the sale of its certain assets to Knight-Swift Transportation, Inc., winning bidder, for a purchase price of $2.20 million in cash, the assumption of assumed liabilities, the storage of the rolling stock on purchaser?s property and such other consideration. The debtor?s assets include 10 leased properties. Under the terms of the asset purchase agreement.

The buyer is represented by Philip Richter, Adam Shiff, and Alexander Sutherl of Fried, Frank, Harris, Shriver & Jacobson LLP as its legal advisors and the debtor is represented by Allyson Smith & Steve Toth of Kirkland & Ellis LLP and Robert J. Chadwick and Caroline Descours of Goodmans LLP as its legal advisors.