YRC did'nt Welch try to buy/merge ABF a few months ago ??

Discussion in 'YRC Freight' started by wongway, Nov 21, 2013.

  1. wongway

    wongway Cayman Island Branch Freight Coordinator

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    Ok so we are broke ?? BUT wait a minute , did'nt Welch try to buy/merge ABF a few months ago ??? so where was that money to come from ??? something fishy here with the numbers game playing ???:27:
     
  2. Freightmaster1

    Freightmaster1 Well-Known Member

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    Relax wrongway! Teamster appointed YRCW Board member Harry Wilson is feverishly working behind the scenes to complete that deal so he and his firm MAEVA get that $5 million dollar completeion bonus! Stay tuned!
     
  3. okeydokey

    okeydokey Active Member

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    Harry Wilson had loan approved for yrc to purchase and in return they would of consolidated terminals and sold remaining ones off, updated equipment, scrap the rest. Few thousand workers would of lost jobs too. That's how they would repaid loan back. Synergies
     
  4. nightowl

    nightowl Well-Known Member

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    yep, i can see that, because synergies worked so well with the roadway and usf buyout.
     
    Last edited by a moderator: Nov 22, 2013
  5. Hard Charger

    Hard Charger Member

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    So correct me if I'm wrong. YRC was able to get approval for a new loan to buy ABF but are not able to refinance the loans they already have in place?
     
  6. wongway

    wongway Cayman Island Branch Freight Coordinator

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    yes, Hard charger, very good point ???
     
  7. AkitaDog

    AkitaDog Well-Known Member

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    The only thing that's going to bought is YRC's customer list by ABF when they finally put this pig out of its misery!
     
  8. nightowl

    nightowl Well-Known Member

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    from what we were told, they had an investor in place, not a loan.
     
  9. Wrench97

    Wrench97 Well-Known Member

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    They don't want or will they need it.
     
  10. crazy

    crazy Well-Known Member

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    Now I look it at this way... If you go out an buy a new car and you can't make the payments what happens??? Repo man comes and takes back the car.. Maybe Repo man can come and take the regionals and leave YRCF debt free and then everyone can live happily ever after...
     
  11. DCM_Doc

    DCM_Doc Well-Known Member

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    You are correct . ABF owns everything & unlike YRC has little debt. The real estate along is worth more than the offer made on the stock. It would be no problem to find an investor for the purchase. The lender/investor would easily make a profit.
     

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