Tag: UK

UK mailing comparison service set to launch

Posted by | Sep 7, 2005 | |

A postal comparison service is being launched which will help marketers navigate their way through the host of commercial postal suppliers following full deregulation at the start of next year. Onepost, a division of mail-sorting software firm Postal Choices, will offer a postal management consultancy service which it claims will be independent of all suppliers. The service will run clients’ data through One-post’s software to match companies with the mailing providers and services that best suit their needs. The software is due to be launched online before the end of the year.

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Exel to open books as Deutsche Post prepares for bid

Posted by | Sep 6, 2005 | |

Exel agreed to open its books to Deutsche Post yesterday to allow the German postal group to conduct limited due diligence ahead of a potential Pounds 3.8bn bid for its UK rival. The decision follows discussions over the weekend between the two companies, which resulted in Deutsche Post making a preliminary takeover proposal. The German group is understood to be offering a mix of cash and paper, with up to 30 per cent made up of shares, according to people close to the situation. The value of the bid is slightly more than Pounds 12 a share. Exel’s closing share price yesterday was Pounds 11.85. Deutsche Post aims to make an announcement on an agreed deal in one to two weeks. It is proposing cost synergies of Pounds 200m and has offered John Allan, Exel chief executive, a seat on its management board. Mr Allan would head the combined logistics division, replacing Frank Appel, current head of logistics, who is seen as the likely successor to Klaus Zumwinkel, Deutsche Post’s long-serving chief executive.

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Royal Mail set to ‘lose a third’ of its market when letter monopoly ends

Posted by | Sep 4, 2005 | |

The Royal Mail is to face a three-way battle for customers and will lose up to a third of its revenues, one of its main rivals is predicting. Peter Bakker, the chief executive of Dutch post and logistics group TNT, says he expects at least two serious rivals to emerge to Royal Mail when its monopoly on letter delivery ends next year. Each, says Mr Bakker, will take 10 to 15 per cent of Royal Mail’s business. He was speaking as another of the expected challengers to Royal Mail, Deutsche Post, was revealed as the suitor of Exel Logistics, the UK delivery group. Both Deutsche Post and TNT are already making inroads into the UK postal market, though mostly in what is known as the ‘access’ area. This is where post is collected from business clients, scanned and sent to regional centres, where it is then passed to the Royal Mail for sorting and delivery.
Mr Bakker said his group soon hopes to be in the ‘consolidation’ area, where TNT will sort mail but Royal Mail staff still deliver. It is installing high-tech sorting equipment in its 69 regional hubs in the next few months.

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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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