Overland Park ? Yellow Corp.’s acquisition of Roadway Corp. moved a step closer Tuesday as shareholders of both trucking companies OK’d the cash-and-stock deal valued at $1.05 billion.

The transaction, expected to close Thursday, will result in creation of Yellow Roadway Corp., which would control more than 15 percent of what is known as the less-than-truckload market. Less-than-truckload carriers consolidate freight from multiple customers.

Bill Zollars, Yellow’s chairman, president and chief executive, has said the two companies would merge some administrative operations but would continue to compete for trucking business. Their trucks will continue to bear their current colors and labels.

The combination will produce some job cuts, mainly in areas where the companies share dual infrastructure. But Zollars said that number was expected to be less than 200 people out of a combined work force of about 50,000.

The biggest savings, Zollars said, would come through leveraged purchasing power for such essentials as fuel and equipment. Though earlier estimates were that the merger would save about $45 million in the first year, Zollars said the savings probably would be closer to $125 million.

Results of the votes were announced during special shareholder meetings at Yellow’s headquarters in Overland Park and at Roadway’s headquarters in Akron, Ohio. Yellow Corp. stockholders voted 21,732,854 to 252,323 in favor of the merger.