Arkansas Best Corporation Agrees to Acquire Premium Logistics Company Panther Expedited Services, Inc.

(Fort Smith, Arkansas, June 14, 2012) – Arkansas Best Corporation (Nasdaq: ABFS), a leading provider of freight transportation and logistics solutions, today announced it has entered into a definitive agreement to acquire Panther Expedited Services, Inc. (“Panther”), from Fenway Partners LLC, a leading middle market private equity firm. The total transaction value is approximately $180 million, subject to post-closing adjustments, with all of Panther’s outstanding debt being repaid as part of the transaction.