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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
YELLOW ROADWAY CORPORATION
--------------------------
(Name of Issuer)
Common Stock, $1.00 Par Value Per Share
---------------------------------------
(Title of Class of Securities)
985577105
---------
(CUSIP Number)
February 24, 2005
-----------------
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 14
------------------- -------------------
CUSIP No. 985577105 13G Page 2 of 14 Pages
-------------------- -------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Advisors, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 1,863,278* (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,863,278* (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,863,278* (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.8% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 2 of 14
------------------- -------------------
CUSIP No. 985577105 13G Page 3 of 14 Pages
-------------------- -------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Management, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 1,863,278* (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,863,278* (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,863,278* (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.8% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 3 of 14
------------------- -------------------
CUSIP No. 985577105 13G Page 4 of 14 Pages
-------------------- -------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Associates, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 1,741,500* (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,741,500* (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,741,500* (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.6% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 4 of 14
------------------- -------------------
CUSIP No. 985577105 13G Page 5 of 14 Pages
-------------------- -------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. MultiQuant, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 121,778 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
121,778 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
121,778 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.2% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 5 of 14
------------------- -------------------
CUSIP No. 985577105 13G Page 6 of 14 Pages
-------------------- -------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CR Intrinsic Investors, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 485,000 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
485,000 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
485,000 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.9% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 6 of 14
------------------- -------------------
CUSIP No. 985577105 13G Page 7 of 14 Pages
-------------------- -------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CR Intrinsic Investments, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 485,000 (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
485,000 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
485,000 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.9% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 7 of 14
------------------- -------------------
CUSIP No. 985577105 13G Page 8 of 14 Pages
-------------------- -------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven A. Cohen
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 2,348,278* (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,348,278* (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,348,278* (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.8% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 8 of 14
Item 1(a) Name of Issuer:
--------------
Yellow Roadway Corporation
Item 1(b) Address of Issuer's Principal Executive Offices:
-----------------------------------------------
10990 Roe Avenue
Overland Park, Kansas 66211
Items 2(a) Name of Person Filing:
---------------------
This statement is filed by: (i) S.A.C. Capital Advisors,
LLC, ("SAC Capital Advisors") with respect to shares of
common stock, $1.00 par value per share ("Shares") of the
Issuer beneficially owned by S.A.C. Capital Associates, LLC
("SAC Capital Associates") and S.A.C. MultiQuant Fund, LLC
("SAC MultiQuant"); (ii) S.A.C. Capital Management, LLC,
("SAC Capital Management") with respect to Shares
beneficially owned by SAC Capital Associates and SAC
MultiQuant; (iii) SAC Capital Associates with respect to
Shares beneficially owned by it; (iv) SAC MultiQuant with
respect to Shares beneficially owned by it; (v) CR Intrinsic
Investors, LLC ("CR Intrinsic Investors") with respect to
Shares beneficially owned by CR Intrinsic Investments, LLC
("CR Intrinsic Investments"); (vi) CR Intrinsic Investments
with respect to Shares beneficially owned by it; and (vii)
Steven A. Cohen with respect to Shares beneficially owned by
SAC Capital Advisors, SAC Capital Management, SAC Capital
Associates, SAC MultiQuant, CR Intrinsic Investors and CR
Intrinsic Investments.
Item 2(b) Address of Principal Business Office:
------------------------------------
The address of the principal business office of (i) SAC
Capital Advisors, CR Intrinsic Investors and Mr. Cohen is 72
Cummings Point Road, Stamford, Connecticut 06902, (ii) SAC
Capital Management is 540 Madison Avenue, New York, New York
10022, (iii) SAC Capital Associates and SAC MultiQuant is
P.O. Box 58, Victoria House, The Valley, Anguilla, British
West Indies and (iv) CR Intrinsic Investments is Box 174,
Mitchell House, The Valley, Anguilla, BWI.
Item 2(c) Citizenship:
-----------
SAC Capital Advisors, SAC Capital Management and CR
Intrinsic Investors are Delaware limited liability
companies. SAC Capital Associates, SAC MultiQuant and CR
Intrinsic Investments are Anguillan limited liability
companies. Mr. Cohen is a United States citizen.
Page 9 of 14
Item 2(d) Title of Class of Securities:
----------------------------
Common Stock, par value $1.00 per share
Item 2(e) CUSIP Number:
------------
985577105
Item 3 Not Applicable
Item 4 Ownership:
---------
The percentages used herein are calculated based upon the
Shares issued and outstanding as of October 29, 2004 as
reported on the Issuer's quarterly report on Form 10-Q filed
with the Securities and Exchange Commission by the Issuer
for the quarterly period ended September 30, 2004.
As of the close of business on March 4, 2005:
1. S.A.C. Capital Advisors, LLC
(a) Amount beneficially owned: 1,863,278*
(b) Percent of class: 3.8%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,863,278*
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,863,278*
2. S.A.C. Capital Management, LLC
a) Amount beneficially owned: 1,863,278*
(b) Percent of class: 3.8%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,863,278*
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,863,278*
3. S.A.C. Capital Associates, LLC
a) Amount beneficially owned: 1,741,500*
(b) Percent of class: 3.6%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,741,500*
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,741,500*
Page 10 of 14
4. S.A.C. MultiQuant Fund, LLC
(a) Amount beneficially owned: 121,778
(b) Percent of class: 0.2%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 121,778
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
121,778
5. CR Intrinsic Investors, LLC
(a) Amount beneficially owned: 485,000
(b) Percent of class: 0.9%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 485,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
485,000
6. CR Intrinsic Investments, LLC
(a) Amount beneficially owned: 485,000
(b) Percent of class: 0.9%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 485,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
485,000
7. Steven A. Cohen
a) Amount beneficially owned: 2,348,278*
(b) Percent of class: 4.8%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 2,348,278*
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
2,348,278*
* The number of shares reported herein includes options held
by SAC Capital Associates on 65,000 Shares.
SAC Capital Advisors, SAC Capital Management, CR Intrinsic
Investors and Mr. Cohen own directly no Shares. Pursuant to
investment agreements, each of SAC Capital Advisors and SAC
Capital Management share all investment and voting power
with respect to the securities held by SAC Capital
Associates and SAC MultiQuant. Pursuant to an investment
management agreement, CR Instrinsic Investors maintains
investment and voting power with respect to the securities
held by CR Intrinsic Investments. Mr. Cohen controls each of
SAC Capital Advisors, SAC Capital Management and CR
Intrinsic Investors. By reason of the
Page 11 of 14
provisions of Rule 13d-3 of the Securities Exchange Act of
1934, as amended, each of (i) SAC Capital Advisors, SAC
Capital Management and Mr. Cohen may be deemed to own
beneficially 1,863,278 Shares (constituting approximately
3.8% of the Shares outstanding); and (ii) CR Intrinsic
Investors and Mr. Cohen may be deemed to own beneficially
485,000 Shares (constituting approximately 0.9% of the
Shares outstanding). Each of SAC Capital Advisors, SAC
Capital Management, Sigma Capital Management, CR Intrinsic
Investors and Mr. Cohen disclaim beneficial ownership of any
of the securities covered by this statement.
Item 5 Ownership of Five Percent or Less of a Class:
--------------------------------------------
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following. [X]
Item 6 Ownership of More than Five Percent on Behalf
---------------------------------------------
of Another Person:
-----------------
Not Applicable
Item 7 Identification and Classification of the Subsidiary Which
---------------------------------------------------------
Acquired the Security Being Reported on By the Parent
-----------------------------------------------------
Holding Company:
---------------
Not Applicable
Item 8 Identification and Classification of Members of the Group:
---------------------------------------------------------
Not Applicable
Item 9 Notice of Dissolution of Group:
------------------------------
Not Applicable
Item 10 Certification:
-------------
By signing below the signatory certifies that, to the best of his knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
Page 12 of 14
SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: March 7, 2005
S.A.C. CAPITAL ADVISORS, LLC
By: /s/ Peter Nussbaum
-----------------------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. CAPITAL MANAGEMENT, LLC
By: /s/ Peter Nussbaum
-----------------------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. CAPITAL ASSOCIATES, LLC
By: /s/ Peter Nussbaum
-----------------------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. MULTIQUANT FUND, LLC
By: /s/ Peter Nussbaum
-----------------------------------------
Name: Peter Nussbaum
Title: Authorized Person
CR INTRINSIC INVESTORS, LLC
By: /s/ Peter Nussbaum
-----------------------------------------
Name: Peter Nussbaum
Title: Authorized Person
Page 13 of 14
CR INTRINSIC INVESTMENTS, LLC
By: /s/ Peter Nussbaum
-----------------------------------------
Name: Peter Nussbaum
Title: Authorized Person
STEVEN A. COHEN
By: /s/ Peter Nussbaum
-----------------------------------------
Name: Peter Nussbaum
Title: Authorized Person
Page 14 of 14