Shares of trucking company Yellow
YELL,
rose 11% to 63 cents in post-market trading after the company said it’s in talks with multiple parties about selling Yellow Logistics.
Yellow said the third-party logistics broker is “one of the fastest growing 3PLs in the industry.”
The Wall Street Journal reported Wednesday that Yellow was preparing to file for bankruptcy. During the regular session on Thursday shares fell 44%.
On Sunday, the Teamsters union pulled back its threat of a strike this week. Yellow had said a strike would force the company into liquidation.
This post was originally published on Market Watch
