No-stick P.A.M. Talk

Rampant speculation that Tontitown’s P.A.M. Transportation Systems Inc. is trying to buyout Cannon Express Inc. doesn’t add up.

Although both are truckload carriers, one industry insider said the $79.1 million Springdale firm is a little bit bigger bite than P.A.M. normally likes to chew. Its last major acquisition, the 1999 buyout of Decker Transport Co. of Riverdale, N.J., for $49.8 million, is P.A.M.’s largest to date.

And on Feb. 19, P.A.M. announced its intention to acquire McNeil Trucking Co. of Little Rock, a private firm that had revenue of $24 million in 2001 and $22 million in 2000. So it would seem that the company’s hands are plenty full.

Still, the word is P.A.M. has made overtures and Cannon’s price is just too high. P.A.M.’s balance sheet, our insider said, is plenty good enough to pull off “a decent size acquisition.” But we’re told this marriage would be a surprise to the sector.

Apparently, Cannon’s leadership is reluctant to sell, but high fuel costs may not leave the one-time road warrior much choice.