The European Commission’s decision to prevent UPS from acquiring TNT Express “risks reducing competition, not increasing it”, an analyst at Transport Intelligence said. UPS has now pulled out of its multi-billion Euro plans to take over TNT Express, which the logistics analyst believes highlights the scale of the challenges the US parcel carrier faced in regard to meeting the regulatory requirements. Transport Intelligence head of consultancy Joel Ray said: “Their decision making process looks flawed, caused by a fundamental lack of […]
Although the heroics of Team GB at London 2012 already feel like a long time ago, UPS, which was named logistics and express delivery partner to the Games in January 2009, doesn’t officially wrap up its involvement until the end of this month. The winding down and effective closure of two warehouses, in Stevenage and the Port of Tilbury, will bring the curtain down on a supply chain that handled 30 million items, and dealt with everything from demanding broadcasters, […]
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 […]
TNT said 2015 will continue to be a year of transition for the company after reporting third quarter turnover of €1.6bn (£1.2bn), up 2.3% year-on-year, and a €27m operating loss, compared with an operating loss of €51m for the third quarter of 2014.