Tag: UK

Deutsche Post takeover of Exel approved by court meeting, shareholders

Posted by | Nov 16, 2005 | |

Exel PLC, the UK logistics group, said a scheme of arrangement that will see it taken over by Deutsche Post AG in an agreed 5.5 bln eur (3.7 bln stg) takeover has been approved at a court meeting and by its shareholders at an extraordinary general meeting. In addition, Exel said the US Federal Trade Commission has granted early termination of the pre-merger waiting period applicable under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

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Deutsche Post unaware of reported US regulatory clearance for Exel deal

Posted by | Nov 15, 2005 | |

Deutsche Post AG said it is unaware of a reported decision by the US antitrust authorities to clear its proposed acquisition of UK logistics group Exel PLC.
The US Federal Trade Commission said in a notice posted on its website yesterday that US antitrust authorities had closed their review of the transaction without taking any action to block the deal, according to a news agency report. A spokesman for Deutsche Post said it expects to hear of the US antitrust decision in due course, but that it has not yet received any formal notification.

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Minister ends hope of private capital for UK Royal Mail

Posted by | Nov 15, 2005 | |

Royal Mail chairman’s hopes of raising private investment for the organisation have been dashed by the Trade and Industry Secretary, who will use legislation to sanction shares only for employees. Allan Leighton had wanted to bring in investment in return for a 10 per cent holding in Royal Mail, in addition to giving a 20 per cent stake to its employees. However, Alan Johnson, the Trade and Industry Secretary, has told The Times that the Government would consider only employee ownership of the state-owned organisation in a share trust. Mr Johnson said that Mr Leighton had done “a tremendous job” at Royal Mail, but added: “Whatever idea he had, he understands completely that we will not privatise Royal Mail . . . We are looking at a share trust and that is the only thing we are looking at in terms of the ownership of the company.”

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John Hogan new CEO for Hagemeyer UK

Posted by | Nov 15, 2005 | |

Hagemeyer is pleased to announce that John Hogan (44) has been recruited as the new CEO for Hagemeyer UK and Ireland. His mission is to complete the Hagemeyer UK turnaround and realise the growth potential of the Hagemeyer UK business. His appointment as CEO of Hagemeyer UK and Ireland and as a member of the Hagemeyer PPS Executive Committee will take effect from 21 November 2005.
John Hogan is an experienced chief executive with an impressive track record in international parcel, freight and logistics businesses.

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New national chair for Postwatch

Posted by | Nov 14, 2005 | |

Secretary of State for Trade & Industry, Alan Johnson, has appointed Urmila Banerjee as the new National Chair of The Consumer Council for Postal Services.
Urmila (Millie) Banerjee CBE is a Non-Executive Director on the Board of the communications regulator Ofcom and a Member of the Strategy Board of the Cabinet Office. She will take up her post as Postwatch Chair on 1 December 2005.
Welcoming her appointment Alan Johnson said: “I am delighted that Urmila Banerjee has agreed to be the new Postwatch Chair. She brings considerable experience to the role at a time of significant change within postal services and consumer representation. I am sure she will make a valuable contribution in shaping the strategic direction of Postwatch and their ongoing work in support of postal users.” The Secretary of State also paid tribute to the outgoing Chair, Peter Carr.

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