US giant Fed-Ex Corp has been tipped to buy a stake in Hermes’ European parcel delivery operation whilst private equity house Advent International is in the frame to become a major investor in Hermes’ UK operation. The claims, made by German newspaper Handelsblatt, follow a recent announcement by Hermes owner Otto Group that it is in advanced discussions with a large strategic investor. Alexander Birken, Otto Group chief executive, said last week: “We are well advanced in discussions with potential […]
The European Commission (EC) said the aborted UPS and TNT merger would have increased prices and would not have been challenged enough by other carriers. The regulator officially blocked the merger from taking place on 30 January, claiming it would have restricted competition for express delivery between European countries in 15 nations. It also said that the acquisition would have reduced the number of “significant players” to two in some countries, which it claimed would have “likely harmed customers by […]
CM Downton enjoyed a successful first full trading year since being acquired by EmergeVest, with profits growing by more than 90%.
Blackpool-based aggregates haulier and earthworks contractor Fox Brothers has acquired Clive Hurt Plant Hire for an undisclosed sum.