Tag: TNT

TNT higher amid speculation Blackstone considering a bid

Posted by | Mar 17, 2006 | |

Shares in TNT NV were up late afternoon amid speculation in the German and Dutch markets that investment fund Blackstone Group may be interested in buying the Dutch mail and logistics company, dealers said. ‘There is some speculation in the market today that Blackstone is interested in TNT,’ said trader Rene Bastiaenen of Eureffect. A Blackstone spokeswoman did not deny the speculation, noting that ‘we are currently doing due diligence on about a hundred things, to assess whether they are of interest.’ She declined to say whether TNT is one of those possible targets.

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Reich predicts TNT sale flop

Posted by | Mar 16, 2006 | |

Dirk Reich of Kuehne & Nagel has predicted that TNT will fail to sell its Logistics division as a whole. There is little interest from trade buyers; investment sponsors are showing high levels of interest at present but they won’t, in the end, meet TNT’s price expectations, he says. TNT will then be forced to sell off the parts in pieces, with value depending on the speed of the process. Reich said that he thought there was a done deal between TNT and UPS, especially after the disposal of the French operations; but that was before TNT Logistics was advertised for sale. Reich said K&N would be interested only in elements in the Far East and in South America and he ruled out buying the strong UK or Italy units.

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Japan Post's planned JV with TNT to be delayed

Posted by | Mar 15, 2006 | |

Japan Post and Dutch mail and logistics giant TNT NV now expect the launch of their planned joint venture to be far behind the original schedule of April, Japan Post President Masaharu Ikuta said Wednesday. Last October, the two firms agreed to set up the venture in April to start joint express transport and delivery services in the Asia-Pacific region. It is uncertain when the two firms will be able to form the new firm, Ikuta told a news conference, adding that they will continue talks on the matter. Japan Post hopes the planned overseas business will be a major source of revenue, as it faces falling demand for its domestic mail service. In the talks on the joint venture, TNT has brought up many new proposals, Ikuta said.

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Swiss Kuehne & Nagel not to bid for Dutch TNT Logistics unit

Posted by | Mar 8, 2006 | |

Swiss logistics company Kuehne & Nagel International AG (K&N) gave up bidding for Dutch mail and logistics group TNT NV’s logistics division, Het Financieele Dagblad said on March 2, 2006. According to K&N CFO Gerard van Kesteren, TNT’s price for its logistics business – between 1.5 bln euro (USD1.805 bln) and 1.8 bln euro (USD2.165 bln ) – is too high. K&N was chiefly interested in TNT’s Asia/Pacific logistics activities and not in the whole division, Van Kesteren added. The CFO said a private equity group has approached K&N in order to bid jointly with the Swiss company for the whole TNT Logistics. The group offered K&N to take over the whole of the TNT division two years after the deal. However, the Swiss company decided not to participate in the bid.

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TNT still seen as takeover target

Posted by | Mar 6, 2006 | |

TNT remains a potential takeover target despite its status as the top European express business and the second-biggest logistics provider in the world. However, the former Dutch mail monopoly is restructuring operations to focus on its TNT Mail and TNT Express units. The company has also sold its contract-delivery business TNT Logistics in order to strengthen its defense against any takeover. Chief executive Peter Bakker is planning to use part of the proceeds for a share buyback in the second half and for small acquisitions to boost TNT’s presence in Europe and Asia.

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