Yellow Corporation filed an asset purchase agreement in the US Bankruptcy Court for the sale of its certain assets on January 2, 2024. As per the agreement dated January 2, 2024, seeks the Court?s approval for the sale of its certain assets to ArcBest Corporation the winning bidder, for a purchase price of $7.75 million in cash. The debtor?s assets include Real property and permit.

Under the terms of the asset purchase agreement, the buyer has made an earnest money deposit of 5% upon the execution of the agreement. The buyer is represented by Michael Gibson of Vinson & Elkins L.L.P as its legal advisors and the debtor is represented by Allyson Smith of Kirkland & Ellis LLP and Robert J. Chadwick of Goodmans LLP as its legal advisors.