Old Dominion Freight Lines has bid $1.5 billion to acquire all of Yellow's terminals. This bid is confirmed in Yellow's August 18 filing (attached below) with the bankruptcy court; ODFL's offer is detailed on page 22 and signed by ODFL's CEO on page 29.
If ODFL gets the properties, it will likely sell off many of the properties, but could use some of the terminals for expansion of their operation.
Yellow owes Teamster health and welfare and pension plans some $45 million. The company is claiming that it can meet all its debt obligations by selling its assets, and this bid by ODFL tends to confirm that.
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