UPS says its takeover of TNT Express is likely to be completed in the fourth quarter. The US firm says it wants to carry out a what it describes as a ‘Phase II review’, as there are “certain areas that require more time to analyse”. This extended review could take up to 25 weeks to complete, which will mean the initial offer period will need to be extended beyond the original deadline of 31 August, and is now expected to […]
UPS has acquired temperature-controlled operator Polar Speed for an undisclosed sum.
TNT Express is to restructure its finance and admin functions in a move that will see it cut 237 data entry, administrative, supervisory and clerical roles.
Major management restructuring in the face of declining revenues at the UK International division of TNT Express has also seen ‘a handful’ of top executives made redundant, Motortransport.co.uk has learnt.