UPS is due to formally submit its €9.50 per share cash offer for Dutch-owned parcels firm TNT Express tomorrow. The offer has been recommended to shareholders by TNT’s board, with majority shareholder PostNL, which holds nearly 30% of all shares, agreeing to sell its stake under the offer. If agreed, the transaction will create a global logistics firm that generates €45bn revenue per year, with UPS benefitting from an increased presence in Europe, while TNT’s customers will gain access to […]
HMV transport providers TNT Express and TNT Post are awaiting the outcome of the retailer’s administration. Both carriers have confirmed that they worked with the music and film retailer, which appointed administrator Deloitte on Tuesday (15 January). A spokesman for TNT Post confirmed that the carrier would continue working with HMV as it trades through its administration. TNT Express confirmed that it worked with the retailer, but declined to comment further. On Monday, TNT Express revealed that UPS had pulled […]
The Pallet Network has signed Basingstoke-based CWM Transport as its owners look to diversify in the wake of the pandemic.