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 […]
Stobart Group has shaken off a tough start to the year by revealing a 7.2% improvement in the profitability of its transport operations, and a 13% leap in turnover driven by the addition of Autologic.
This year has seen many companies in the parcels sector thrive as carriers move record volumes and consumers continue to do more of their shopping online. But while this has encouraged some parcel carriers to invest heavily in their networks and offer more services to their customers, 2013 has also bought with it more challenges for many operators who have struggled to keep apace with the rapidly changing industry. Motortransport.co.uk has compiled a list of the biggest stories in that […]
Profit at TNT UK almost quadrupled in 2012, during a year that put parent company TNT Express under pressure while the proposed takeover by parcel giant UPS was being considered.