XPO to buy 28 service centers from bankrupt Yellow

XPO Inc. (XPO) said late Tuesday it got approval from the U.S. bankruptcy court for the district of Delaware to buy 28 service centers previously operated by Yellow Corp., which filed for bankruptcy in August. XPO will buy 26 of the centers and assume existing leases for the other two, it said. The deal is expected to close by the end of the year and amounts were not disclosed. "This acquisition of real estate is a once-in-a-generation opportunity to increase capacity in critical, growing freight markets, create more jobs and serve our customers even more effectively," Chief Executive Mario Harik said in a statement. Shares of XPO edged higher in the after-hours session after adding 3.1% in the regular trading day.

-Claudia Assis

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12-12-23 1748ET

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