FedEx and TNT are one step closer to their merger after a joint statement from the companies said they did not expect to receive a statement of objections from the European Commission, which might have slowed or even vetoed the deal. The EC launched an “in-depth” investigation into the merger, which was announced in April, after it voiced “concerns that the merged entity would face insufficient competitive constraints” if it went ahead. However in yesterday’s statement the companies said while […]
FedEx UK made four acquisitions totalling £13.8m in the past 10 months – but has declined the opportunity to say why.
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 […]
UPS and TNT Express do not now expect their multi-billion euro merger, announced in March, to be completed until early 2013. The operators had originally hoped to seal a deal in the first half of the year, but involvement from the European Commission as regulator scuppered this timetable. Last month the European Commission temporarily suspended the takeover to allow regulators more time to gather information, a process that is ongoing. Despite this UPS and TNT had still expected to complete […]