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YRC Worldwide extends offer deadline again
AP ONLINE
posted: 30 MINUTES AGONEW YORK (AP) — Financially strapped trucking company YRC Worldwide Inc. said Wednesday it has extended the deadline for its proposed debt-for-equity exchange for a second time because of an insufficient response.
The offer was set to expire on Tuesday night. The company extended it to midnight Thursday. The company said it is in "constructive discussions with stakeholders related to the exchange offers."
YRC said 75 percent of note holders tendered their notes before the latest deadline — short of the 95 percent required.
If the exchange is successful, it will give 95 percent of the company's outstanding shares to note holders, drastically reducing current shareholders' stakes.
YRC Worldwide extends offer deadline again - AOL Money & Finance
Looks like they are beating a dead horse but who knows
AP ONLINE
posted: 30 MINUTES AGONEW YORK (AP) — Financially strapped trucking company YRC Worldwide Inc. said Wednesday it has extended the deadline for its proposed debt-for-equity exchange for a second time because of an insufficient response.
The offer was set to expire on Tuesday night. The company extended it to midnight Thursday. The company said it is in "constructive discussions with stakeholders related to the exchange offers."
YRC said 75 percent of note holders tendered their notes before the latest deadline — short of the 95 percent required.
If the exchange is successful, it will give 95 percent of the company's outstanding shares to note holders, drastically reducing current shareholders' stakes.
YRC Worldwide extends offer deadline again - AOL Money & Finance
Looks like they are beating a dead horse but who knows