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 UK, Ireland and Nordics president Cindy Miller has been promoted to president of UPS Europe.
DX Group sales and marketing director Paul Doble has warned that online retailers are in danger of overwhelming capacity on their distribution networks in the run up to Christmas. Financial services firm Experian has predicted a 36% rise in online retail visits today and Doble said retailers should re-assess their delivery capabilities. Carriers are offering collection two working days before Christmas. TNT Express, DPD, FedEx, Hermes and UK Mail all said that 21 December is the last day they can […]
UPS has launched a new click and collect service across 600 locations in the UK.