FedEx Corp. is suing a company that United Parcel Service intends to buy and
accuses the firm of giving trade secrets to FedEx’s larger rival.
FedEx claims that Fritz Companies Inc. gave UPS confidential information about FedEx during negotiations that ultimately led to UPS agreeing to buy Fritz for $450 million
in stock.
UPS venture capital arm bought whole of Mail2000 after split from TPG. UPS will now indirectly be sorting USPS mail for them.
Read MoreFedEx Corp. and United Parcel Service Inc., usually each other’s most hated rival, have found something they’re willing to bury the hatchet over: the German post office. Convinced that Deutsche Post AG is gearing up for a North American invasion, the two U.S. delivery giants are joining forces in hopes of proving that a delivery blitz would be bad for America.
Read MoreUS Postal Service had average increase of 4.6% on 1/7/01, but mailers face 4.9% increase from FedEx and 3.7% hike from United Parcel Service
Read MoreUnited Parcel Service Inc. on Tuesday reported fourth-quarter net income of $724 million, or 63 cents per share, up from earnings of $661 million, or 56c per share, in the fourth quarter of 1999.
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