FedEx has made an offer to acquire TNT Express, valuing the business at €4.4bn (£3.2bn), in a deal that both parties describe as having a high level of certainty. The offer already has the backing of PostNL (parent company of Whistl, formerly TNT Post) – which is tendering its 14.7% shareholding in TNT Express. In a joint statement, both parties said that the existing employment terms at TNT Express will be respected and TNT Express’ European headquarters would remain in […]
The European Commission (EC) said the aborted UPS and TNT merger would have increased prices and would not have been challenged enough by other carriers. The regulator officially blocked the merger from taking place on 30 January, claiming it would have restricted competition for express delivery between European countries in 15 nations. It also said that the acquisition would have reduced the number of “significant players” to two in some countries, which it claimed would have “likely harmed customers by […]
Tuffnells Parcels Express contributed £114m of revenue and £9.7m of operating profit to its new owner Connect Group in the year to the end of August, group chief executive Mark Cashmore has revealed.
DX Group has acquired The Legal Post (Scotland) and First Post from First Scottish Group for £3.25m, in a move that consolidates the legal document exchange market in Scotland.