FedEx Corporation has announced that it has acquired TNT Express. The €4.4 billion acquisition combines the strengths of the companies – the world’s largest air express network and an unparalleled European road network, which will expand the existing FedEx portfolio and reshape the global transportation and logistics industry, FedEx said. FedEx said the integration process of TNT Express will begin immediately, adding that the company's track record of successful acquisition integrations in … [Read more...] about FedEx completes €4.4 billion acquisition of TNT
Fred Smith
Brazil quashes UPS appeal over FedEx’s TNT takeover
FedEx Corporation has gained approval from Brazil's anti-trust authorities as the Conselho Administrativo de Defesa Econômica (CADE) has rejected a third-party appeal filed by United Parcel Service over the takeover. UPS appealed after Brazil unconditionally approved the $4.8 billion deal in February. FedEx has already obtained regulatory approval from anti-trust bodies in the EU, and the US while it is still in pursuit of a similar green signal from authorities in China. The consolidation … [Read more...] about Brazil quashes UPS appeal over FedEx’s TNT takeover
Brazil quashes UPS appeal over FedEx's TNT takeover
FedEx Corporation has gained approval from Brazil's anti-trust authorities as the Conselho Administrativo de Defesa Econômica (CADE) has rejected a third-party appeal filed by United Parcel Service over the takeover. UPS appealed after Brazil unconditionally approved the $4.8 billion deal in February. FedEx has already obtained regulatory approval from anti-trust bodies in the EU, and the US while it is still in pursuit of a similar green signal from authorities in China. The consolidation … [Read more...] about Brazil quashes UPS appeal over FedEx's TNT takeover
FedEx set to buy TNT for €4.4 billion
FedEx Corp's €4.4 billion bid Tuesday for TNT Express took the world's last large potential integrator acquisition target off the table, marking a victory in FedEx's battle to gain market share from rival United Parcel Service Inc. In 2013, European regulators blocked a $6.9 billion bid from Atlanta-based UPS, the world's largest package delivery company, for TNT on grounds that the combined companies would have more than 30 per cent of the European market. The transaction would … [Read more...] about FedEx set to buy TNT for €4.4 billion
FedEx Express takes delivery of first 777 Freighter
FedEx Express has taken delivery of its first of 15 Boeing 777 Freighters it has on order with at least four of these serving Asia to US routes by April 2010. By 2014 the express company will have a total of 15B777 freighters in its fleet, it said. “The 777F is a game changer,†said FedEx Express, president, International, Michael L Ducker. “Our customers around the world will benefit from more point-topoint routes and the shorter flight times, increasing their … [Read more...] about FedEx Express takes delivery of first 777 Freighter
FedEx says global recession bottomed out
"We have probably hit the bottom," said industry stalwart Fred Smith, chairman, president and CEO of FedEx Corporation while announcing the global express company's latest quarterly earnings last week. FedEx's overall group revenue for the quarter ended 28 February was down 14 per cent year-on-year to US$8.14 billion while operating income fell 72 per cent to US$182 million, whilst net income also fell by nearly 72 per cent to US$97 million. … [Read more...] about FedEx says global recession bottomed out
