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.

Get Advice Join TDU Donate

Recent News

If You Care About Who Wins the Teamster Election, Act Like It

The International Union election is make or break for our union. The outcome will be determined by Teamsters who have not mailed back their ballots yet. It’s up to each of us to talk to members and get out the vote.

Four Myths About the Teamster Election

If you want OZ-Teamsters United to win the election, don’t fall for these four myths.

View More News Posts