ups
UPS shrugged off its disappointment over its failed takeover of TNT to announce record earnings per share in the fourth quarter of 2012 of $1.32 and $4.53 respectively, led by a strong US domestic performance. UPS chairman and CEO Scott Davis said that while “2012 presented its challenges, most notably weak global trade, nonetheless, UPS executed well, delivering superior service to customers.”
Strong demand for UPS package services in Europe and Asia led ...
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The European Union formally vetoed UPS's planned takeover of rival TNT Express on 30 January. UPS's divestment plan was insufficient, said Competition Commissioner Joaquin Almunia. UPS had already announced that it was abandoning its takeover plan in the face of Brussels' opposition.
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UPS has abandoned its bid to take over Dutch-owned express rival TNT Express in the face of opposition from Brussels. The US-based parcels giant said on 14 January that it had learned that the European Commission was working on a decision to prohibit the proposed acquisition.
UPS had already submitted proposed “remedies” ...
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UPS and TNT Express said they would sell assets and open up their air networks on 30 November in a bid to assuage Brussels regulators in their bid to get approval for their planned merger. However, the express delivery companies gave few other details. According to press reports, UPS has ...
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UPS and TNT said on 19 October that they have received a Statement of Objections (SO) from the European Commission (EC) over the competitive effects of their intended merger on the international express small package market in Europe.
In a statement, the two carriers described the SO as a normal step ...
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Tough domestic economic conditions are forcing UK businesses to look overseas for growth, according to a joint study by logistics company UPS and the Centre for Economics and Business Research (Cebr), published on 12 October.
However, the economy remains very reliant on mature export markets and there has been relatively little ...
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EU regulators said on 5 September that they would extend their review of UPS's proposed takeover of TNT Express , triggering an admission from the US parcels giant that the deal would not now be completed until early 2013, instead of the hoped-for deadline of late 2012. Brussels said that ...
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The European Commission has resumed its examination of UPS’s proposed acquisition of TNT Express and has set a new deadline, of 20 December. UPS had already extended its public offer for the Dutch-based company from 31 August to 9 November. However, the two companies said they still hoped to complete ...
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The European Commission has temporarily suspended its investigations into UPS's bid to acquire TNT Express, putting further doubt on whether the deal can be completed by the two companies hoped for date of late 2012. Brussels said it was seeking more information.
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UPS announced second quarter 2012 diluted earnings per share of $1.15 on 23 July, up 7.5% over the 2011 adjusted results. US domestic operating profit rose 14%, despite the increasing uncertainty in the economic outlook there, continuing weakness in Asian exports and the debt crisis in Europe, said UPS chairman ...
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