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  1. #1
    Imitated never duplicated

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    Default YRC Merger Approved! SEC filing, Form 8-K

    YRC Worldwide - Current Report
    Item 5.07. Submission of Matters to a Vote of Security Holders.

    The Company held a special meeting of stockholders on September 16, 2011. The Company’s outstanding common stock, Series A Voting Preferred Stock and Series B Convertible Preferred Stock voted together as a single class on all proposals, with each share of common stock and Series A Voting Preferred Stock entitled to one vote and each share of Series B Convertible Preferred Stock entitled to 42.6652 votes. At the meeting, the following matters were voted on, and the following votes were cast, by the stockholders:

    The Agreement and Plan of Merger, also referred to herein as the “Merger Agreement,” between the Company and its recently formed, wholly-owned subsidiary, YRC Merger Sub, Inc., a Delaware corporation, was approved. The merger will be effective upon the filing of the Certificate of Merger with the Delaware Secretary of State.

  2. #2
    Imitated never duplicated

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    Default Re: YRC Merger Approved! SEC filing, Form 8-K

    YRC Worldwide (YRCW) Holders Approve Merger Pact with YRC Merger Sub

    StreetInsider.com - YRC Worldwide (YRCW) Holders Approve Merger Pact with YRC Merger Sub
    YRC Worldwide (YRCW) Holders Approve Merger Pact with YRC

    September 16, 2011 11:18 AM EDT

    In a Form 8-K filing, YRC Worldwide (Nasdaq: YRCW) said at a special meeting, shareholders voted to approve the merger pact with YRC Merger Sub Inc.

    The deal will be effective upon the filing of the Certificate of Merger with the Delaware Secretary of State.

  3. #3
    I Am Rocking Now

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    Default Re: YRC Merger Approved! SEC filing, Form 8-K

    they approved the merger pact
    a merger of shares/stock?
    a merger of companies?
    I'm more confused now.
    And this new company, yrc merger sub........as in sub contracting????

  4. #4
    Imitated never duplicated

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    Default Re: YRC Merger Approved! SEC filing, Form 8-K

    (Reuters) - Shares of long-troubled U.S. trucker YRC Worldwide (YRCW.O) plunged more than 65 percent on Friday as the company completed a financial restructuring that essentially wiped out shareholder equity.

    Trucker YRC shares plummet as company restructures | Reuters
    At a meeting Friday morning, a group of lenders, bondholders and labor union members took control of Overland Park, Kansas-based YRC, merging it into a new formed subsidiary as part of a sweeping financial restructuring that gives YRC about $100 million in new capital.

    "When you consider that as part of the merger they are issuing ... about 4 billion in incremental shares... there really is no equity value in the company," said Morgan Keegan & Co analyst Arthur Hatfield.

  5. #5
    Imitated never duplicated

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    Default Re: YRC Merger Approved! SEC filing, Form 8-K

    SPECIAL MEETING OF STOCKHOLDERS

    http://files.shareholder.com/downloa...-11-203204.pdf
    At the Special Meeting, you will be asked to vote on matters relating to our financial restructuring. As is described more fully in the proxy materials, we have entered into a number of related transactions designed to improve our balance sheet and the liquidity available to us to operate our business. You will be asked to vote on a merger agreement (the “Merger Agreement”) pursuant to which a wholly owned subsidiary of the Company will be merged with and into the Company with the Company as the surviving entity, in connection with which the Company’s certificate of incorporation will be amended and restated to, among other things, increase the amount of authorized common shares (the “Charter Amendment Merger”). Upon completion of the Charter Amendment Merger, the Series B Convertible Preferred Stock issued in the financial restructuring will automatically convert into our common stock, and certain of our debt securities issued in the financial restructuring will have voting and conversion rights as set forth in the indentures governing such debt securities. Each share of capital stock,
    including common stock, of the Company issued and outstanding immediately prior to the effective date of the Charter Amendment Merger will remain issued and outstanding immediately following the Charter Amendment Merger, upon which the Series B Convertible Stock will be converted into our common stock.

    We urge you to read the proxy statement materials in their entirety and to consider them carefully including the effect that adopting or failing to adopt the proposals will have on stockholders.
    (Crazy posted announcement some time ago)

    A merger agreement ???

  6. #6
    I Am Rocking Now

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    Default Re: YRC Merger Approved! SEC filing, Form 8-K

    It's just a matter of time now.

  7. #7
    Retired !

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    Default Re: YRC Merger Approved! SEC filing, Form 8-K

    Quote Originally Posted by Kickass View Post
    It's just a matter of time now.
    A matter of time for what ? For the stock to begin to go back up ? For business to increase and more people go back to work ? YRC now has working capitol and will buy more equipment ? Elaborate please ...

  8. #8
    Imitated never duplicated

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    Default Re: YRC Merger Approved! SEC filing, Form 8-K

    Just to bring different perspectives/explanations.

    YRC Worldwide Shareholders Approve Restructuring | Journal of Commerce
    Internal ‘merger’ seals ownership change, boosts number of common shares
    YRC Worldwide shareholders overwhelmingly approved the last step in the trucking giant’s financial restructuring plan Friday, voting in favor of an internal merger that launches a massive release of new stock and effectively changes YRC’s ownership.

    The merger agreement combined YRC Worldwide and its recently created YRC Merger Sub subsidiary, with YRC Worldwide as the surviving company. The merger was needed to execute the final steps of the $500 million restructuring, which was approved by YRC Worldwide, the Teamsters union and its lending group in July.

    By approving the merger, shareholders authorized the issuance of hundreds of millions of shares of common stock. YRC Worldwide’s banking group will own about 72.5 percent of the company’s stock, and its Teamsters employees 25 percent.

  9. #9
    Imitated never duplicated

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    Default Re: YRC Merger Approved! SEC filing, Form 8-K

    The Union speaks:

    Final Step in YRCW Restructuring Approved | International Brotherhood of Teamsters (IBT)
    Final Step in YRCW Restructuring Approved

    September 16, 2011

    Today, YRCW held a special meeting of its shareholders to approve the final step in its restructuring. When the restructuring transaction closed on July 22, 2011, it required a merger of corporate entities in the fall to complete the restructuring. In the shareholder vote, 99 percent of all shares voted to approve the merger. In concert with this approval, all preferred shares issued in connection with the restructuring transaction will convert to common equity. Teamster YRCW members receiving stock allocations to their 401(k) accounts set up in conjunction with the transaction should expect shares to be distributed to their accounts on or before September 30, 2011.

    To be clear, today’s developments do not affect the daily operations of YRCW but are a step forward in moving beyond the completed restructuring.
    Last edited by Trucker Wife; 09-16-2011 at 07:21 PM. Reason: Kickass, no effect on the daily ops. :D

  10. #10
    I Am Rocking Now

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    Default Re: YRC Merger Approved! SEC filing, Form 8-K

    Quote Originally Posted by fxstc07 View Post
    A matter of time for what ? For the stock to begin to go back up ? For business to increase and more people go back to work ? YRC now has working capitol and will buy more equipment ? Elaborate please ...
    Let me know when you see any "new" equipment, LOL!!! I'm thinking if customers were smart, and they are, they'd rather ship with an LTL Co. that's not hanging by a thread, if anything this will cause costumers to bail! yrc needs to make a profit still, this stunt today does nothing for that, not like they were paying on the debt anyways, so it's a matter of time before to many quarterly losses is enough.

 

 
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