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 has completed its final delivery to the International Broadcast Centre (IBC) and Main Press Centre (MPC) at the Olympic Park. As a result the equipment for 21,000 media representatives is now all delivered, set up and in place for the start of the Games. The logistics giant has transported 400 tons of television gear, 60,000 items of broadcast equipment and 560,000m of cabling into the IBC, which will be the only facility within the Olympic Park to operate 24 […]
Christmas 2012 was another record-breaking year for parcel carriers, with many reporting volumes that made 2011’s peak seem a simple task. With year-on-year volumes rising every Christmas and the online retail boom not showing any signs of slowing down, how are carriers ensuring they are well prepared for 2013’s peak? Retailers again reported record-breaking internet sales over the festive period. Web sales were up 44% for City Link customer John Lewis, and 11% for Hermes customer Next. Debenhams also saw […]
Unite says it is currently considering its course of action after talks with UPS earlier this week were unsuccessful.