Wed, Feb. 17, 2:04 AM
- UPS is likely to file an appeal against Brazilian regulator CADE's decision to clear FedEx's (NYSE:FDX) takeover of TNT Express (OTCPK:TNTEY), CTFN reports, saying the move could come as soon as today.
- According to CADE's agenda, lawyers from the delivery company met up with three Tribunal commissioners last week.
- UPS, which tried to acquire TNT in 2012, is the only competitor eligible for an appeal, since it's classified as the only "third party" interested in the case.
- Previously: Fedex-TNT deal gets green light from Brazil (Feb. 02 2016)
Thu, Feb. 11, 3:59 PM
- UPS (UPS -0.9%), one of the largest U.S. rail customers, is the latest company to oppose a merger between Canadian Pacific Railway (CP -2.9%) and Norfolk Southern (NSC -1.9%), WSJ reports.
- UPS reportedly sent a letter to the U.S. Surface Transportation Board that a hostile takeover or acquisition would not be in the best interest of the intermodal shipping community.
- It may not matter, as CP Rail CEO Hunter Harrison admitted yesterday that the railroad's options for winning a hostile bid are "becoming shorter and shorter."
Oct. 2, 2015, 3:35 AM
- European regulators are considering demanding concessions such as asset sales from FedEx (NYSE:FDX) in order to authorize the company's proposed €4.4B ($4.9B) acquisition of Dutch rival TNT Express (OTCPK:TNTEF), the WSJ reports.
- FedEx had predicted that the deal would easily receive approval, arguing that it was much different from UPS's (NYSE:UPS) attempts to buy TNT in 2013, which failed because of regulatory objections. UPS's appeal over the matter has been complicating the FedEx-TNT combination.
- The EU could formally send its concerns to FedEx in a couple of weeks, although it could still unconditionally authorize the deal.
Jul. 31, 2015, 8:49 AM
- UPS (NYSE:UPS) announces the acquisition of Coyote Logistics for $1.8B.
- The company expects the addition of the truckload freight brokerage to be accretive to earnings in 2016.
- An annual run rate of $100M-$150M in annual operating synergies is forecast.
- Interest by UPS in Coyote was tipped off last week.
- Previously: UPS in talks over Coyote Logistics buyout (Jul. 22 2015)
- UPS +0.1% premarket.
Jul. 22, 2015, 3:04 PM| Jul. 22, 2015, 3:04 PM | 3 Comments
Jun. 15, 2015, 2:25 PM
- UPS Capital acquires logistics provider Parcel Pro for an undisclosed amount.
- The company says the acquisition will add value for customers looking to ship high value jewelry, watches, and collectibles.
- UPS Capital is a subsidiary of UPS (UPS).
Apr. 7, 2015, 3:24 AM
- FedEx(NYSE:FDX) has agreed to acquire struggling TNT Express (OTCPK:TNTEF) for €4.4B ($4.8B) in a deal that will give the U.S. company access to the Dutch package-delivery firm's European road network. In return, the latter's customers should benefit from FedEx's global distribution platform.
- FedEx is offering €8 a share, or a premium of 33% over TNT's close of €6 in Amsterdam on Thursday last week. PostNL (OTCPK:PNLYY), TNT's biggest shareholder, has agreed to sell its 14.7% holding.
- FedEx hopes to succeed where United Parcel Service (NYSE:UPS) failed two years ago, when the EU moved to block a bid of almost €7B due to antitrust concerns. However, unlike FedEx, UPS already had a significant European presence when it tried to acquire TNT. (PR)
Sep. 4, 2013, 2:41 PM
- UPS (UPS +0.8%) says it plans to buy the assets of two companies in Costa Rica.
- Both companies have had a long relationship with UPS as authorized contractors.
- Financial terms of the deal weren't disclosed.
Jan. 30, 2013, 6:00 AM
Jan. 15, 2013, 5:55 AM
UPS (UPS) will reportedly look to grow its existing business and at acquiring smaller European companies following the collapse of its €5.16B ($6.9B) acquisition of TNT Express due to EU opposition. However, UPS has no specific plans at this point; the company has already made purchases in Belgium, Italy and Turkey in recent years.| Jan. 15, 2013, 5:55 AM | 1 Comment
Jan. 14, 2013, 3:02 AM
The European Commission has told UPS (UPS) that it is working on a decision to block the U.S. company's €5.2B acquisition of Dutch rival TNT Express. If the deal is not approved, UPS will pay TNT a termination fee of €200M and withdraw the offer. The EU's likely decision is not a surprise given that Competition Commissioner Joaquin Almunia has expressed antitrust concerns about the transaction. (PR)| Jan. 14, 2013, 3:02 AM | 1 Comment
Dec. 18, 2012, 5:36 AM
UPS (UPS) reportedly offers "substantially improved" concessions in its attempt to gain the EU's approval for its €5.2B ($6.84B) acquisition of Holland's TNT Express (TNTEF.OB). UPS has already offered to sell assets and open up its flight operations to rivals, although Competition Commissioner Joaquin Almunia has expressed caution about UPS's ability to allay his antitrust concerns.| Dec. 18, 2012, 5:36 AM
Nov. 30, 2012, 2:39 AM
UPS (UPS) and TNT Express offer to sell units and provide competitors with access to their air networks in order to allay EU competition concerns about UPS's €5.2B acquisition of the Dutch company. Investors have been skeptical that the deal will go ahead, with TNT's shares trading sharply below the offer price of €9.50 a share. (PR)| Nov. 30, 2012, 2:39 AM | 3 Comments
Nov. 16, 2012, 5:37 AM
UPS's (UPS) €5.16B acquisition of TNT Express moves a step closer after the latter conditionally agrees to sell its airlines operations to Dublin-based ASL Aviation Group. The divestiture will enable a combined UPS-TNT to comply with rules that bar a non-EU entity from controlling over 50% of an EU airline operator.| Nov. 16, 2012, 5:37 AM
Nov. 4, 2012, 3:25 AM
UPS's (UPS) €5.16B acquisition of TNT Express needs "substantial remedies" to allay antitrust concerns, EU competition chief Joaquin Almunia has said, adding that the bloc's review of Glencore's (GLCNF.PK) bid for Xstrata (XSRAF.PK) is "well advanced." In addition to looking at high market share, which is "not always problematic," Almunia said, regulators look at the impact of a deal on pricing, quality, choice and innovation.| Nov. 4, 2012, 3:25 AM
Oct. 24, 2012, 5:38 AM
TNT Express is in advanced negotiations with at least two prospective buyers to sell its airline subsidiary as part of UPS's (UPS) €5.16B acquisition of the Dutch package-delivery company, the WSJ reports. However, talks may be complicated by concessions that UPS and TNT have to make to win EU approval for their deal.| Oct. 24, 2012, 5:38 AM