UPS has announced it has the funding in place for the acquisition of TNT Express, which was announced on 19 March. The US parcels giant will finance the deal by using €3.7bn of cash from its balance sheet and around €1.46bn via existing credit facilities. Totalling €5.16bn, the original deal reached between UPS and TNT Express was for an all-cash offer of €9.50 per ordinary share for the takeover of the Dutch business. In line with Dutch regulatory requirements, UPS […]
UPS’ failed attempt to take over TNT Express left a shadow of uncertainty hanging over the Netherlands-based express carrier. But it has emerged with a clear strategy for success as TNT Express Services UK & Ireland Managing Alistair Cochrane tells Steve Hobson.
TNT Express has won a contract to become the exclusive express delivery provider for musical instrument and audio equipment manufacturer and Gibson.
TNT Express has taken delivery of 69 Iveco Eurocargos for its multi-drop urban distribution fleet, and will be benchmarking their performance against competitor brands.