UPS has pulled out of its multi-billion Euro bid to take over TNT Express, almost a year after it first entered into talks with the parcel firm. It hoped the merger would create a €45bn (£37.4bn) logistics giant, increasing the US firm’s presence in the European market. However on Friday (11 January), the European Commission (EC) told both parties that it planned to prohibit the merger. MT.co.uk looks at how the story developed over the year. The merger process began […]
FedEx said it “remains confident” about its proposed takeover of TNT Express despite the European Commission launching what it termed an “in-depth investigation” into the planned acquisition.
Former TNT Express chairman and chief executive Marie-Christine Lombard has taken up the position of chief executive of Geodis. Having left the parcel firm last month, Lombard will take up the position vacated by former chief executive Jean-Louis Demeulenaere. She will oversee the firm’s transport and logistics division, Geodis Calberson. Jean-Louis Demeulenaere is leaving Geodis to “pursue new projects”, according to a company statement issued yesterday. The appointment comes as of a governance shake-up by the board of directors, which […]