-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, TuU+xr+obeNVOakjU7RxUTc3LrFahP06vJU1qtyT0djKyfERQ+PUrNjl6SQH9kSu zW42g0ddPFLpewKGXo5hOQ== 0000894405-94-000014.txt : 19940831 0000894405-94-000014.hdr.sgml : 19940831 ACCESSION NUMBER: 0000894405-94-000014 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19940818 ITEM INFORMATION: Acquisition or disposition of assets FILED AS OF DATE: 19940829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARKANSAS BEST CORP /DE/ CENTRAL INDEX KEY: 0000894405 STANDARD INDUSTRIAL CLASSIFICATION: 4213 IRS NUMBER: 710673405 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-19969 FILM NUMBER: 94546753 BUSINESS ADDRESS: STREET 1: 1000 SOUTH 21 ST CITY: FORT SMITH STATE: AR ZIP: 72901 BUSINESS PHONE: 5017856000 MAIL ADDRESS: STREET 1: P O BOX 48 CITY: FORT SMITH STATE: AR ZIP: 72902 8-K 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 18, 1994 --------------------- ARKANSAS BEST CORPORATION - - ----------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 0-19969 71-0673405 - - ------------------------- ------------------------- ---------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation or organization) 1000 South 21st Street Fort Smith, Arkansas 72901 (501) 785-6000 - - ----------------------------------------------------------------------------- (Address, including zip code, and telephone number, including area code, of the registrant's principal executive offices) Item 5. Other Events. (a) On August 18, 1994, Arkansas Best Corporation announced that it had entered into an agreement to purchase all of the stock of Clipper Exxpress and two affiliated transportation companies for a total consideration of approximately $60 million in cash, subject to certain closing audit adjustments. Item 7. Financial Statements and Exhibits. (a) Financial statments of businesses acquired. None (b) Pro forma financial information. None (c) Exhibits. Exhibit 28 - Arkansas Best Corporation news release dated August 18, 1994 announcing the acquisition of Clipper Exxpress. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ARKANSAS BEST CORPORATION (Registrant) Date: August 29, 1994 s/Donald L. Neal ----------------- ------------------------------------ Donald L. Neal - Senior Vice President - Chief Financial Officer, and Principal Accounting Officer INDEX TO EXHIBITS Sequentially Exhibit Numbered Number Exhibit Page - - --------- -------- -------------- 28 Arkansas Best Corporation news release dated 5 August 18, 1994 announcing the acquisition of Clipper Exxpress. EX-28 2 FOR IMMEDIATE RELEASE ARKANSAS BEST CORPORATION ANNOUNCES ACQUISITION OF CLIPPER EXXPRESS (NASDAQ/NMS: "ABFS") (Fort Smith, Arkansas, August 18, 1994) -- Arkansas Best Corporation (the "Company") announced today that it has entered into an agreement to purchase all of the stock of Clipper Exxpress and two affiliated transportation companies for a total consideration of approximately $60 million in cash, subject to certain closing audit adjustments. Clipper Exxpress has been engaged in transportation as a non-asset based intermodal marketing and freight logistics company since 1938. Clipper was founded by the late Jerry Chambers, a visionary in the transportation business. Robert A. Young, III, President - CEO of the Company said "the Clipper acquisition will provide us with a strong entry into a very different and rapidly growing segment of the transportation market. We anticipate that it will continue to be headquartered in Lemont, Illinois (a suburb of Chicago) and operated separately and distinctly from the other Arkansas Best subsidiaries. It is our intention that Clipper's management will continue their very able and experienced management roles with no changes in personnel anticipated as a result of the change in control. "Clipper is a truly multi-modal transportation company that is an excellent strategic fit with current year revenues for the acquired companies expected to be in the $140 million range," Mr. Young added. The Company said that it will use cash on hand and funds provided under its existing lines of credit to finance the acquisition. The completion of the transaction is subject to the receipt of certain regulatory approvals and other customary conditions, and is expected to take place within the next 45 to 60 days. The Company, through subsidiaries, is engaged in nationwide LTL trucking primarily through ABF Freight System, Inc. and truck tire retreading and new tire sales through its approximately 46%-owned subsidiary, Treadco, Inc. END OF RELEASE For further information, contact Mr. Randall Loyd, Director of Financial Reporting, at (501) 785-6200. -----END PRIVACY-ENHANCED MESSAGE-----