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 […]
UPS is boosting the number of electric vehicles it runs from its central London depot from 65 to 170, after installing technology that marks the beginning of the end for the combustion engine.
Major management restructuring in the face of declining revenues at the UK International division of TNT Express has also seen ‘a handful’ of top executives made redundant, Motortransport.co.uk has learnt.