Arkansas Best to Shed Clipper LTL
Arkansas Best Corporation has reached an agreement to sell all customer and vendor lists related to Clipper's LTL freight business to Hercules Forwarding Inc. of Vernon, California for $2.6 million in cash. The deal is scheduled to close on December 31, 2003. Some details related to the sale and costs associated with Clipper's departure from the LTL business will be finalized at or near closing, so