Brownslave688
You want a toe? I can get you a toe.
Morning fluffers. I'm going back to
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Nothingness Fluff ,part 2
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Operational needs
Virescit Vulnere Virtus
Operational needs
Virescit Vulnere Virtus
Ugh! Yet another reason for them to either not give us a raise or give us another measly 2%.
Returntosender
Well-Known Member
FedEx has highlighted its intentions to expand globally with a planned purchase of Dutch-based rival TNT Express on Tuesday morning.
The deal is a all-cash public offer that values the European company at $4.8 billion and conditionally means that shares of TNT Express would be offered at 8 euros each. The offer is being priced at a 33 percent premium compared to its current value, according to the joint press release. Both firms anticipate that the offer would close in the first half of 2016.
FedEx stated in the press release that new debt arrangements would help fund the agreement.
The tie-up would "transform" its European capabilities and accelerate global growth and allow its customers to enjoy access to an enhanced global network.
In early 2013, antitrust regulators from the European Union blocked a bid by UPS for TNT Express, expressing concerns that the deal wasn't ensuring enough concession to make sure consumers wouldn't lose out.
On Tuesday, FedEx and TNT Express said they were confident that anti-trust concerns, if any, could be addressed adequately in a timely fashion.
FedEx Europe President David Binks told CNBC Tuesday that he thought regulators would find it a "good for the market" with the tie-up creating a strong third competitor in the region.
First published April 6th 2015, 10:27 pm
The deal is a all-cash public offer that values the European company at $4.8 billion and conditionally means that shares of TNT Express would be offered at 8 euros each. The offer is being priced at a 33 percent premium compared to its current value, according to the joint press release. Both firms anticipate that the offer would close in the first half of 2016.
FedEx stated in the press release that new debt arrangements would help fund the agreement.
The tie-up would "transform" its European capabilities and accelerate global growth and allow its customers to enjoy access to an enhanced global network.
In early 2013, antitrust regulators from the European Union blocked a bid by UPS for TNT Express, expressing concerns that the deal wasn't ensuring enough concession to make sure consumers wouldn't lose out.
On Tuesday, FedEx and TNT Express said they were confident that anti-trust concerns, if any, could be addressed adequately in a timely fashion.
FedEx Europe President David Binks told CNBC Tuesday that he thought regulators would find it a "good for the market" with the tie-up creating a strong third competitor in the region.
First published April 6th 2015, 10:27 pm
Good morning to you too, Gumby.
Yep. Didn't work out.
moreluck
golden ticket member
UPS has such a large 'footprint' in Europe, they were likely to be considered a monopoly. FDX has a much smaller footprint there, so their acquisition of TNT is welcomed.
The news never mentions that FDX is a small prescence in Europe, they just mention how wonderful FDX is.
sailfish
Master of Karate and Friendship for Everyone
I've done that.Echo?
I believe it
bleedinbrown58
That’s Craptacular
Morning Beefaroni!
Operational needs
Virescit Vulnere Virtus
Good thing for the TNT workers that unions are pretty big in the EU or they would find out pretty quickly how the wonderfulness of FedEx is a myth.
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FrigidAdCorrector
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Johney
Pineapple King
Wouldn't that suck if after the merger is complete they start paying them like $10 more an hour than you all in the states?
F
FrigidAdCorrector
Guest
The cost of living is also much higher in Europe so they kind of have to pay them more. Average per gallon price of gas in Germany right now is $5.57
oldngray
nowhere special
The costs vary in Europe. Food is probably a little cheaper and internet is much cheaper. School costs are also much cheaper there.
F
FrigidAdCorrector
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While those are cheaper, things like housing, cars, and taxes drive prices up quite a bit. My mom travels to Stuttgart, Birmingham, and Geneva quite a bit and excluding airfare she pays on average 15% more than her trips of equal length in the states.
Operational needs
Virescit Vulnere Virtus
It wouldn't surprise me. I think they make more in Canada.
Ask Rickyb
oldngray
nowhere special
He makes enough sitting in his basement to have enough to donate to revolutionary organizations.
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