USF Stockholders Approve Acquisition by Yellow Roadway
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The companies said they expected the transaction to close Tuesday.
SF Corp. said Monday its stockholders approved the less-than-truckload carrier’s acquisition by Yellow Roadway Corp.
The two LTL carriers announced the $1.37 billion deal Feb. 27, which was amended May 1 when Yellow Roadway raised its cash component to 65% from 50%.
USF said 99.5% of the votes cast were in favor of the merger and that 61.5% of eligible USF shareholders voted.
Yellow Roadway is ranked No. 3 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers. USF is No. 12.
