Yellow hints at $150-$200 million stock buyback

Yellow Roadway yesterday told investors it may seek to buy back $150 to $200 million worth of its common stock, most likely after it completes its acquisition of USF Corp. this summer.
March 9, 2005

Yellow Roadway yesterday told investors it may seek to buy back $150 to $200 million worth of its common stock, most likely after it completes its acquisition of USF Corp. this summer.

However management has not made a final decision, nor has its board given its approval yet, Yellow said in a filing with the Securities and Exchange Commission.

Yellow Roadway believes that cash flows and a balance sheet following the closure of the USF deal would support the buyback.

On Feb. 27 Yellow Roadway announced it has reached an agreement to acquire USF for $1.37 billion and $99 million in debt.

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