Arkansas Best Submits Stock Proposal

Arkansas Best Corp. submitted a proposal to acquire all of the stock it does not already own in Treadco Inc. for $9 a share in cash.

The parent of ABF Freight System said its proposal is supported by Shapiro Capital Management Co., Treadco's largest independent stockholder, which owns 1.13 million shares, or 22% of the outstanding common stock. Arkansas Best owns 49% of Treadco, a company that specializes in the sale of new and retread truck tires.

Treadco said it will form a special committee of independent directors to consider the Arkansas Best proposal.

Both companies are based in Fort Smith, Ark.

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