Saia Motor Freight Line, LLC entered into an asset purchase agreement to acquire 17 terminals of Yellow Corporation for approximately $240 million on December 5, 2023. Saia intends to pay the purchase price with a combination of cash on hand and availability under its credit facilities. Transaction is subject to various conditions, including approval by the U.S. Bankruptcy Court for the District of Delaware of the sale, expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and regulatory approvals and is expected to close in the first quarter of 2024. Robert M. Barnes and Joe Robertson of Bryan Cave Leighton Paisner LLP acted as legal advisor to Saia Motor Freight Line, LLC. Allyson Smith and Steve Toth of Kirkland & Ellis LLP acted as legal advisor to Yellow Corporation. Robert J. Chadwick and Caroline Descours of Goodmans LLP acted as legal advisor to Yellow Corporation. Ducera Partners LLC acted as financial advisor to Yellow Corporation.

Saia Motor Freight Line, LLC completed the acquisition of 17 terminals of Yellow Corporation on January 17, 2024.