YRC Worldwide shareholders approve measures needed after debt-for-equity swap

February 18, 2010: YRC Worldwide Inc. on Wednesday said its shareholders approved a series of measures required as part of a recent debt-for-equity exchange and a recent agreement by investors to provide YRC with $70 million in new liquidity.

The Overland Park-based trucking and logistics company (Nasdaq: YRCW) said in a release that, at a special shareholders meeting, a majority voted in favor of increasing the total number of shares the company could issue and reducing the par value of those shares. Shareholders also authorized the company’s board of directors to trigger a reverse-stock split, which will reduce the overall number of shares and make them more valuable.

Click here to read more at the Kansas City Business Journal.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Building for the Future: New TDU Dues Rates

TDU is on a drive to increase our membership and our war chest. At our recent Convention, members voted to increase TDU membership dues for the first time in 17 years.

Pension Protection Committee Responds to Grassley Bill

The National United Committee to Protect Pensions (NUCPP) has issued a statement in response to the Multiemployer Pension Recapitalization and Reform bill introduced by Senator Chuck Grassley (R-IA) and Lamar Alexander (R-TN)

View More News Posts