On September 15, 2023, Estes Express, the nation’s fourth-largest LTL carriers with $4.4 billion revenue last year, has made a $1.3 billion bid for all of Yellow’s 160 company-owned terminals. Estes’ bid was shortly topped by a $1.5 billion offer for the terminals by LTL industry leader Old Dominion Freight Line. ODFL is required to make a 5% deposit. The bids remain effective for 180 days, or until around Feb. 1.
If Estes were able to acquire all of Yellow’s terminals, it would have more than 420 North American terminals – making it the largest LTL carrier by terminal door count in North America. Estes figured to be one of the largest beneficiaries of Yellow’s closing before the offer to buy all of Yellow’s terminals.
Estes has more than:
- 280 freight terminals in the US and Canada
- 9,600 tractors
- 37,000 trailers