FedEx’s €4.4bn (£3.4bn) takeover of TNT Express is set to complete later this month, just over a year since the parcel giants announced the deal. In a joint statement today, the businesses said 88.4% of TNT Express’s shares had been tendered during the acceptance period that ended on 13 May. FedEx will pay the offer price on 25 May. FedEx said shareholders who have not yet tendered their shares will have the opportunity to in a post-closing acceptance period, which will […]
They told us it would happen: in April 2012, advisory firm KPMG predicted a flurry of mergers and acquisitions in the logistics and distribution sector during the year… and that’s exactly what we got. Top of the pile in terms of the most noteworthy was undoubtedly the UPS/TNT Express merger announced in March and set to create a £37bn turnover logistics giant. The takeover was described at the time by TNT Express chief executive Marie-Christine Lombard as a move that […]
DX Group has entered an agreement to sell its Business Direct operations to ByBox Field Services by 21 December, disposing of its overnight parts distribution service.
The acquisition of administration-hit Elite Transport Services pushed Deben Transport into the red last year.