Directors agreed a UKpound 35.1 million management buyout. The buyout, backed by Barclays Private Equity, is at 69 pence cash per share — a 54 percent premium to Nightfreight’s share price in December when talks were announced, but a 35 percent discount to the float price of 105 pence in 1994.
Read MoreUK parcels firm Fastrack went into receivership last week, just hours after a profits warning sent the company’s shares tumbling by 35%.
Read MoreBudgens aborted attempt to develop an online shopping service has cost the company £2.5m in launch and closure costs.
Read MoreDeutsche Post has reportedly spent about $5 billion over the past two
years or so on acquisitions, including the purchase of U.S.-based Air Express
International Corp. and Switzerland-based Danzas Management AG. The
company also recently raised its stake in DHL International to 51% from 25%.
DHL Airways could be split into two separate companies, one small firm for
>>air operations and a second, relatively big firm for ground operations,
>>Zumwinkel indicated
Deutsche Post AG (G.DPW) could make further acquisitions this year even as it focuses on the integration of its various existing units, including express delivery firm DHL International Ltd., Deutsche Post Chairman Klaus Zumwinkel told Dow Jones Newswires
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