SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 12, 2002
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YELLOW CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-12255 48-0948788
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
10990 Roe Avenue, P. O. Box 7563, Overland Park, Kansas 66207
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (913) 696-6100
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No Changes.
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(Former name or former address, if changed since last report.)
Item 5. Other Events
Yellow Corporation (NASDAQ: YELL) today announced that it received a favorable
ruling from the Internal Revenue Service confirming the tax-free nature of the
pending spin-off of SCS Transportation, Inc. (SCS Transportation). SCS
Transportation is a holding company for the operating companies of Saia Motor
Freight Line, Inc. and Jevic Transportation, Inc.
The spin-off, scheduled for late third quarter 2002, will be a tax-free
distribution to Yellow Corporation shareholders of record. The company will
establish a record date after final authorization for the transaction is
received from the Yellow Corporation board of directors. In the spin-off,
shareholders of record will receive one share of SCS Transportation stock for
every two shares of Yellow Corporation stock. A Form 10 registration document
containing additional information of interest for investors has been filed with
the Securities and Exchange Commission.
Yellow Corporation, a Fortune 500 Company, is a holding company with wholly
owned operating subsidiaries. Its largest subsidiary, Yellow Transportation,
Inc. offers a full range of national, regional and international services for
the movement of industrial, commercial and retail goods. SCS Transportation
provides overnight and second-day LTL and selected TL services to a broad range
of industries. Meridian IQ is a non-asset based company using web-native
technology to provide customers a single source for logistics planning and
global shipment management. Headquartered in Overland Park, Kansas, Yellow
Corporation employs approximately 28,000 people nationally.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
YELLOW CORPORATION
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(Registrant)
Date: August 12, 2002 /s/ Donald G. Barger, Jr.
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Donald G. Barger, Jr.
Chief Financial Officer