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

UPS Teamsters United Zoom Event: Moving from Problems to Solutions

Join a UPS Teamsters United national zoom event to talk about how we can move from problems to solutions in upcoming negotiations and how you can get involved in the UPS contract campaign, Sunday, October 16 at noon ET / 11am CT / 10am MT / 9am PT.

Rank-and-File UPSers Share Sample Contract Proposals

Rank-and-file UPSers have compiled sample contract proposal ideas for the National Master Agreement. Click here to see what they've come up with. And make sure you attend your local union’s proposal meeting.

View More News Posts