UPS has pulled out of its multi-billion Euro bid to take over TNT Express, almost a year after it first entered into talks with the parcel firm. It hoped the merger would create a €45bn (£37.4bn) logistics giant, increasing the US firm’s presence in the European market. However on Friday (11 January), the European Commission (EC) told both parties that it planned to prohibit the merger. MT.co.uk looks at how the story developed over the year. The merger process began […]
George Willis has replaced Cindy Miller as MD of UPS UK, Ireland & Nordics, following Miller’s promotion to president of UPS Europe, Middle East and Africa earlier this year.
TNT Express has unveiled a strategy to improve its performance and financial results as both group turnover and operating profit continue to decline.
UPS is set to acquire TNT Express NV in a deal that will create a €45bn (£37.4bn) global logistics firm. The deal values the Dutch firm at approximately €5.16bn, following its increased offer of €9.50 per ordinary share. UPS says that in acquiring TNT it will fulfill its long-standing aim to expand its European operations. According to the Motor Transport Top 100 the combined business will generate a UK turnover of approximately£1.3bn – placing it level with Wincanton as the […]