Old Dominion ups bid for Yellow properties to $1.5 billion

Old Dominion has made a bid on Yellow’s real estate holdings following an initial offer form Estes. 

Over the weekend, Old Dominion offered $1.5 billion for Yellow’s network of 169 truck terminals, surpassing Estes Express Lines’ offer of $1.3 billion earlier in the week. 

The bid would fully cover Yellow’s $1.2 billion in debt. A lawyer for Yellow has said that the company has already received interest in its assets from more than 100 parties, reported the Wall Street Journal.