secwatch.observer — SEC 8-K summary
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Issuer:     SAIA INC (SAIA)
CIK:        0001177702
Form:       8-K
Filed at:   2023-12-11T23:59:59+00:00
Accession:  0000950170-23-069432
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Saia acquires 17 Yellow Corp terminals for $235.7M in bankruptcy court-approved sale
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- Saia to pay $235.7M cash for 17 freight terminals in 14 states from bankrupt Yellow Corp.
- Bankruptcy Court hearing on Dec 12, 2023; transaction expected to close Q1 2024.
- Saia made $11.8M earnest money deposit; balance from cash on hand and credit facilities.
- Acquisition expands Saia's terminal network; assumes defined liabilities including cure costs and environmental.
- Representations and warranties do not survive closing; parties retain specific performance rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1177702/000095017023069432/0000950170-23-069432-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1177702/000095017023069432/saia-20231205.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-069432

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