UPS casts an eye on TNT Express

TNT Express rejects hostile offer for takeover from its competitor UPS

There are signs indicating a market consolidation in the international express logistics industry. The American United Parcel Service Inc. (UPS) has started a hostile takeover bid at the end of last week. Target objective is the Dutch parcel and express logistics group TNT Express, whose entire issued share capital UPS wants to acquire for a purchase price of EUR 4.9 billion. The management of the candidate for takeover rejected the offer in a first statement.

There have been takeover rumours about the parcel business of TNT Express since quite a while. The enterprise has a strong presence in Europe (about 18 per cent of the market share) and 83,000 employees worldwide. Annual turnover 2010 amounted to EUR 7.053 billion. TNT Express moves about 4.7 million parcels, documents and freight pieces around the world per week by means of 30,000 vehicles and 50 cargo aircraft.

Quelle: LogEastics
Portal: www.logistik-express.com