Tag: Deutsche Post

American parcels giant eyes the bid territory for Exel

Posted by | Sep 3, 2005 | |

American parcels giant UPS is working with investment bank Goldman Sachs to explore whether it should enter the fray for Exel, potentially triggering a bid battle for the British supply chain company. UPS, which is valued at USD78billion (pounds 42billion) and has very little debt, has long kept a watching brief on Exel, which on Thursday revealed it had received a preliminary takeover approach from Deutsche Post, the German owner of the DHL courier business. Exel shares slipped 3½ yesterday to pounds 11.75, valuing the business at pounds 3.4billion. UPS has been building up its freight forwarding operations, through 2001’s USD450m acquisition of Fritz and last year’s USD150m purchase of Menlo Worldwide Forwarding but lacks Exel’s strong presence in contract logistics – managing the supply chain for blue-chip companies.
Acquiring Exel would maintain UPS’s leadership in parcels delivery, freight forwarding and contract logistics.

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Exel and Deutsche Post rush to make deal

Posted by | Sep 3, 2005 | |

Top executives at Exel are set to meet their counterparts at Deutsche Post this weekend to try and hammer out the terms of a deal with the aim of launching a bid within the next two weeks. “Both sides are trying to get a deal done as fast as possible but nothing has yet been agreed,” one person close to the situation said. The push to accelerate talks between the UK logistics company, which has a market valuation of Pounds 3.44bn, and Europe’s biggest postal group came as investment bankers scrambled to try and interest counterbidders in a potential deal.

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What future for Royal Mail as Deutsche Post wades into UK with mooted bid for Exel?

Posted by | Sep 2, 2005 | |

Allan Leighton, chairman of Royal Mail, can only look on and weep. While overseas rivals respond to the challenge of deregulation by expanding into new businesses and new territories, he’s condemned to make the best of what he’s got. Trapped within the Treasury controlled boundaries of the public finances, all he can do to meet the challenge of postal competition is slash costs to match the decline in revenues. The already privatised Deutsche Post, by contrast, is moving to reduce its dependence on the German domestic market, where its monopoly is due to end in 2007, by expanding overseas.

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Deutsche Post could face a bid battle with UPS

Posted by | Sep 2, 2005 | |

Deutsche Post may have made the first move on Exel but it is unlikely to be the sole bidder. UPS, the US package delivery company, and TPG, the Dutch logistics group, have also been touted as possible bidders. Alastair Gunn, analyst at Arbuthnot Securities, says: “Whether it is Deutsche Post who ends up with Exel, is doubtful. I think UPS is likely to outbid them.” He adds: “In terms of other companies coming in, nobody else can compete. It would be a waste of management time and energy.” An acquisition of Exel by UPS would underline the Atlanta-based company’s ambition to increase its presence in Europe, where it is challenging the dominance of DHL, owned by Deutsche Post, and TNT, owned by TPG.
UPS has become increasingly reliant on international revenues, especially in Europe and Asia, to offset slowing growth and increasing competition in the US.

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Deutsche Post delivers takeover proposal to British rival Exel

Posted by | Sep 2, 2005 | |

Deutsche Post has approached Exel, its British global supply chain rival, about a possible takeover that analysts say could cost more than EUR5bn (USD6.5bn).
‘Discussions are at a preliminary stage and there can be no certainty as to their outcome,’ Deutsche Post said in a statement. Neither it nor Exel gave further details. The news sent shares in Exel soaring by as much as 17%, valuing it at GBP3.45bn (USD6.5bn), while Deutsche Post shares fell EUR 0.60 to EUR19.84 amid concerns it may be overpaying.

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