Arkansas Best Corp. said it will buy logistics company Panther Expedited Services from private equity firm Fenway Partners for $180 million including debt. The deal will include cash of $80 million and a five-year $100 million senior secured term loan, the company said in a statement.
(Reuters) – Arkansas Best Corp said it will buy logistics company Panther Expedited Services from private equity firm Fenway Partners for $180 million including debt.
Arkansas Best said the deal will add to its earnings from the third quarter of 2012.
It will fund the acquisition with cash of $80 million and a five-year $100 million senior secured term loan, the company said in a statement on Thursday.
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