The European Commission (EC) has extended the deadline for the completion of its investigation into FedEx’s proposed acquisition of TNT. The new deadline is 13 January compared with the original 7 December deadline. It came after the two operators requested more time. Ricardo Cardoso, spokesman for competition policy of the EC, said: “We can confirm that the deadline for the commission to decide on the proposed merger has been extended until 13 January. “The parties have requested a 20 day […]
UPS’ failed attempt to take over TNT Express left a shadow of uncertainty hanging over the Netherlands-based express carrier. But it has emerged with a clear strategy for success as TNT Express Services UK & Ireland Managing Alistair Cochrane tells Steve Hobson.
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 […]
Transportation fuel supplier and distributor Greenergy has bought Barnstaple-based William C. Hockin (Tankers) as part of wider plans to grow its long distance operations.