Tag: USA

Exel could face counter bid to Deutsche Post’s agreed takeover

Posted by | Sep 19, 2005 | |

Deutsche Post AG’s agreed 5.5 bln eur (3.7 bln stg) cash and shares takeover of Exel PLC could be scuppered by rival bids, with American giants United Parcel Service Inc and/or Fedex Corp tipped to spoil the party. Although both Deutsche Post and Exel have agreed a 37.4 mln stg penalty if either side walks away from the recommended offer, the UK group’s board, led by chairman Nigel Rich, has a fiduciary duty to consider any other offers. The German group’s recommended bid is pitched at 12.44 stg a share – 9.0 stg (some 73 pct) in cash with the balance in Deutsche Post shares. Some analysts believe the equity element to the offer could be the deal’s Achilles heel. ‘Despite a mix-and-match agreement potentially watering down the share element for some Exel shareholders, we suspect this will be unpopular and leave the door open to a cash offer from UPS,’ said Alastair Gunn, analyst at Arbuthnot. He reckons major shareholders will likely sit tight until the intentions of UPS, which has reportedly appointed Goldman Sachs to look into the logic of a counter offer, are better known.

Read More

UPS parcel carried faces pilots’ strike

Posted by | Sep 14, 2005 | |

After an almost three-year dispute with the world’s largest package delivery company, United Parcel Service, its pilots have voted overwhelmingly to authorize a strike. UPS has 2,459 pilots, of whom almost 97 percent are eligible to vote and agreed to authorize the Independent Pilots Association to call a strike. Despite the vote, the pilots are prohibited from striking unless the union is released from US federally supervised mediation. The president of the pilots’ union, Tom Nicholson, said he would delay in requesting a release from mediation because of the devastation of Hurricane Katrina and the role UPS pilots may could be called on to play in relief efforts. Nicholson said in an interview. “Will we ask for release? Without a contract, yes. When will that happen? I don’t know.” UPS last week said it had anticipated the vote, but that the threatened strike would have no impact on its business. UPS says its pilots are among the best paid in the industry, and it called for mediation to continue.

Read More

PWC Buys GeoLogistics

Posted by | Sep 12, 2005 | |

PWC Logistics strengthened its position in the Middle East with the USD454 million acquisition of global freight forwarder and third-party logistics provider GeoLogistics of Santa Clara, Calif. GeoLogistics will continue to operate under its own name as a wholly owned subsidiary of Kuwait-based PWC. Senior management will remain in place. “Freight forwarding is a service that will continue to grow at impressive rates and one where strong market participants will continue to distance themselves from their midsize competitors,” said PWC Chairman Tarek Sultan. “GeoLogistics will significantly increase PWC Logistics’ global forwarding capabilities, especially within, to and from the Middle East.” It’s PWC’s third acquisition of 2005.

Read More

European post offices speed towards privatisation

Posted by | Sep 8, 2005 | |

The privatisation of postal services, focus of a watershed election in Japan over economic and social reform, is well underway in Europe under the twin pressures of competition and financing. Many of the objections being raised in Japan have already been aired in Europe, albeit with less dramatic effects.
Opposition, sometimes virulent, continues in some areas as a trend towards the introduction of private finance into what used to be an almost entirely publicly owned and run sector gathers pace.

Read More

DHL announces new facility in Kansas City

Posted by | Sep 8, 2005 | |

DHL today announced plans to locate a new Regional Sort Center in Kansas City, Kansas. DHL expects to invest USD3 million over the next three years in the development of the new facility, which will immediately create 130 jobs in the local community. “The new facility in Kansas City will enhance our network operation by enabling us to provide the highest quality service to our growing customer base across the country,” said Fred Beljaars, Executive Vice President for Operations at DHL. “The center is one element of our USD1.2 billion investment program launched in 2004 to enhance DHL’s network connectivity, increase efficiency, and improve service for our customers.”

Read More

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

Have you noticed a decrease of non-EU inbound parcel volumes since the implementation of the new €3 charge?

Thank you for voting
You have already voted on this poll!
Please select an option!


View ResultsHide Results

Post & Parcel Magazine


Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.

Subscribe to the Magazine

 

Pin It on Pinterest