UPS purchase of LYNX Express is cleared
European Union antitrust regulators approved UPS Inc.’s proposed $96.3 million purchase of British parcel carrier LYNX Express Ltd. on Monday, saying the deal posed no competition concerns in the European market.
UPS, the world’s largest parcel carrier, announced the deal in July, aiming to expand its presence in Europe. UPS said the deal is expected to close by the end of the year.
The European Commission said the transaction “would not significantly impede effective competition,” adding that LYNX’s domestic and international delivery services did not overlap with the European operations of Atlanta-based UPS.
LYNX Express, based in Nuneaton, England, is majority owned by the private equity firm Bridgepoint Capital Ltd.
In addition to its parcel delivery service, LYNX Express offers logistics services. It had sales of $295 million for the fiscal year that ended Oct. 2, 2004.
UPS has been expanding its international business in recent years, especially in China.
IFW 10.10.05
The EC has approved UPSs £55.5m (EUR81.9m) purchase of independent parcel carrier for Lynx Express. Bill Caplan, MD of UPS UK will assume responsibility for the combined UPS-Lynx operations.
