Court Rules EU Erroneously Blocked UPS from TNT Deal
A European Union court ruled that the European Commission wrongfully blocked UPS from acquiring Dutch carrier TNT Express in 2013, which paved the way for rival FedEx to pick up TNT in 2016
TNT Express
UPS Acquires UK Truck Brokerage Firm Freightex
UPS has acquired British firm Freightex to gain entry into the European truck brokerage market. This comes eight months after FedEx closed its acquisition of Netherlands-based TNT Express. See what a UPS unit executive had to say about the rationale behind the move, how it will be integrated with Coyote Logistics and how it’s positioned in the European market.
FedEx-TNT Merger Clears Final Hurdle With Chinese Approval
A final hurdle to FedEx’s proposed $4.8 billion acquisition of Dutch carrier TNT Express NV has been cleared via an unconditional approval from the Chinese Ministry of Commerce. The deal has already been blessed by authorities in the EU and Brazil, after an initial challenge last fall by the former. The deal will bring FedEx close to parity with UPS in Europe, or possibly launch it into second place behind EU market leader DHL.
UPS Challenging FedEx-TNT Deal in Brazil
Three years after having its acquisition of TNT snagged on EU regulatory concerns, UPS has filed an appeal of the FedEx-TNT deal. Will this latest move hang up the $4.8 billion deal for its main rival, announced last April? Stay tuned for the next installment.
French Supply Chain Giant Geodis to Buy OHL
Continuing a recent trend in logistics consolidation, France’s supply chain giant Geodis plans to acquire U.S.-based 3PL OHL for an estimated $800 million.
EU Probing FedEx’ Proposed Acquisition of TNT Express
The EU is investigating whether FedEx’ proposed acquisition of TNT Express would be an anti-competitive deal in the European parcel delivery market.
TNT Express Reports Loss, Talks of Challenges Ahead of FedEx Acquisition
Dutch firm TNT Express reported an operating loss and lower comparable revenues for Q1 and said it faced a challenging 2015 ahead of the FedEx acquisition.
UPS Reports Net Income Up 12.6% in Q1
UPS’s Q1 net income was up 12.6% to $1.02 billion, as executives said they’re making gains in revenue and profitability in its growing ecommerce business.
FedEx Will Buy TNT Express for $4.8 Billion
FedEx Corporation and TNT Express N.V. have reached conditional agreement on recommended all-cash public offer of €8.00 per ordinary TNT Express share. The transaction represents an implied equity value for TNT Express of €4.4 billion, or $4.8 billion U.S.