In an analysis of mergers and acquisitions in the global transport sector early this year, KPMG predicted activity would remain high in 2016 – and their forecast has proven to be spot on. Hargreaves Services (pictured top) kicked things off in January with the purchase of earthmoving and civil engineering firm CA Blackwell Group, in an £11.9m deal. Its chief executive described Blackwell’s operation as “complementary to and synergistic” with Hargreaves’ mining operation. With a taste now for splashing out, […]
Mergers and acquisitions (M&A) activity in the transport sector throughout the world is predicted to rise for the fourth consecutive year, according to a report from KPMG.
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 […]