UPS and TNT agree takeover deal

Commercial Motor

March 19, 2012

UPS has agreed a takeover deal with TNT Express in a move that will create a €45bn (£37.4bn) global logistics firm.

The US parcels giant will use the acquisition of TNT as a means to expand its European operation, with the newly-created business set to generate UK turnover of around £13.5bn.

Marie-Christine Lombard, chief executive of TNT Express, says: “This combination will significantly enhance the capabilities of two strong companies. I am convinced that together we will be the supplier and employer of choice in the express delivery industry.”

For more details of the deal, see our sister website www.motortransport.co.uk

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