Return to search

Allied Systems Pulls Bid

Allied Systems Holdings Inc., facing a slew of objections from creditors, has withdrawn its $67 million bid for fellow auto hauler Performance Transportation Services Inc. LBO Wire also reported that both companies are controlled by Yucaipa Cos., the Los Angeles private equity firm founded by billionaire Ron Burkle. Yucaipa took over Allied earlier this year after funding the Atlanta company's own exit from Chapter 11. www.pts-inc.biz