YRC and Deutsche Post deny rumor

A rumor that trucking company YRC Worldwide would be taken over by Deutsche Post appears very unlikely, market insiders say.

Shares of YRC increased more than 7% following the report circulating on the Internet, which claimed that the company would be sold at $42 per share-- with the total reaching $3.4 billion.

Both companies immediately dispelled the rumor. Bill Zollars, CEO of YRC, said that “(they) do not comment on market rumors.” Deutsche Post said in a statement that they have “neither in word nor in writing made any statements or comments as regards to this company.”