UPS has pulled out of its €5.16bn offer for TNT Express – in a deal that would have created a business with a combined annual turnover of £1.3bn in the UK – blaming European Commission (EC) concerns with the acquisition. The proposed merger is expected to be prohibited by the EC, the parcel giants warned in joint statements this morning (14 January). TNT said UPS sees “no realistic prospect” that it will receive EC clearance and will formally terminate the […]
UPS has received a statement of objections from the European Commission as part of a competition review of its acquisition of TNT Express. According to UPS the statement of objections addresses the competitive effects of the intended deal on the international express small package market in Europe. It added that UPS and TNT Express would respond to the EC within “a couple of weeks”, but would not elaborate on the nature of the statement of objections as its contents were […]
Palletways has appointed a former TNT UK manager to head up its Oxford operation, as activity at its new Abingdon site gets underway.
Former TNT Express chairman and chief executive Marie-Christine Lombard has taken up the position of chief executive of Geodis. Having left the parcel firm last month, Lombard will take up the position vacated by former chief executive Jean-Louis Demeulenaere. She will oversee the firm’s transport and logistics division, Geodis Calberson. Jean-Louis Demeulenaere is leaving Geodis to “pursue new projects”, according to a company statement issued yesterday. The appointment comes as of a governance shake-up by the board of directors, which […]