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YRC Worldwide (YRCW) Affirms Proposal to Acquire Arkansas Best (ABFS)

May 9, 2013 10:08 AM EDT Send to a Friend
YRC Worldwide Inc. (NASDAQ: YRCW) confirms that it had made a preliminary proposal to acquire Arkansas Best Corp (Nasdaq: ABFS).

In response, President and CEO Judy McReynolds stated that she had shared the proposal and discussed it with the company's board of directors but declined to enter into talks with YRCW because "timing was not right to consider such a transaction." James Welch, chief executive officer of YRCW, said, "Our board and management believed then and believes now that the combination of Arkansas Best and YRCW would be in the best interests of all employees, customers and shareholders of both companies. We remain committed to continuing the great strides we have made at YRCW."




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