Estes Express Lines has agreed to acquire the real estate of bankrupt trucking company Yellow for at least $1.3B. The portfolio includes more than 160 truck terminals, a kind of property that is rarely traded, according to The Wall Street Journal.
Since Yellow is currently in Chapter 11 bankruptcy, which will result in its ultimate liquidation in an effort to pay off its roughly $2.5B in debt, the sale to rival trucking line Estes will be subject to the court’s approval. It could be superseded by a better offer.
“You are going to have a tremendous amount of interest in this portfolio,”  Wofford…