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 […]
Paul Day, MD at Turners (Soham), has described the group’s purchase of hazardous logistics specialist Lewis Tankers last month as being “all about growth”.
The transport and logistics sector is set for a flurry of mergers and acquisitions this year, according to advisory firm KPMG, following a year of subdued activity in 2011. Steffen Wagner, European head of transport transactions at KPMG, says: “This year certainly took off to a promising start. Many companies, particularly in the logistics segment, are sitting on full coffers and are ready for increased strategic acquisitions.” He adds that any activity will rely on three main factors: GDP development […]
Strood, Rochester-based R Swain & Sons has delivered a boost to its special projects division with the acquisition of specialist plant and services firm Gatwick Plant.