Yellow Rivals Scoop Up Truck Terminals in Bankruptcy Auction

Yellow is set to raise more than $2 billion after a bankruptcy auction that will disperse much of its national network of truck terminals among rivals, casting deeper doubt on a long shot bid to revive the trucker.

About a dozen trucking companies bought properties at a court-supervised auction that unloaded 75% of Yellow’s properties for a total of just under $1.9 billion, according to a filing Monday evening in the U.S. Bankruptcy Court in Delaware. The bids must be approved by the court, which is scheduled to hold a hearing Dec. 12.