So whats the deal with TNT takeover?

[upssalesguy]

Thanks Viking, we wouldn't want the mail services either, I think they are the netherlands post office as well.

It would be interesting. I think if we did acquire we would keep the talent we need and unfortunantly dump the other workers. Again, this is all speculation, and TNT loves to hear it, it makes their stock go up. I thought it would happen a few years ago, now I am not so sure.

I wouldnt be suprised if Scott Davis had an acquisition up his sleeve, he has to be using this squirreled away money for something.

 

[Coldworld]

Thanks Viking, we wouldn't want the mail services either, I think they are the netherlands post office as well.

It would be interesting. I think if we did acquire we would keep the talent we need and unfortunantly dump the other workers. Again, this is all speculation, and TNT loves to hear it, it makes their stock go up. I thought it would happen a few years ago, now I am not so sure.

I wouldnt be suprised if Scott Davis had an acquisition up his sleeve, he has to be using this squirreled away money for something.

 

[Coldworld]

I wonder if deutsche post would/could ever be considered? Is that even possible if ups was interested??

 

[david cassin]

i have only seen 1 or 2 tnt vans in dublin in the last year or more ,things must must be bad for them.
i thought ups would have bought the european road network off them to go with our one,they have a great network.

 

[moreluck]

UPDATE 1-TNT Express rejects 4.9 bln euros UPS bid
February 17, 2012 12:12 ET
Thomson Reuters News United Parcel Service Inc
UPS
© Copyright 2012, Thomson Reuters
Page 1
(Adds detail of shareholder dispute)
AMSTERDAM, Feb 17 (Reuters) - Dutch delivery firm TNT Express said on Friday its board of directors has rejected an
unsolicited takeover offer from U.S-based peer UPS worth an estimated 4.9 billion euros, but it said discussions are
continuing.
UPS made an offer of 9 euros per share for all of TNT's issued capital, a premium of 42 percent over Friday's closing price of
6.343 euro for TNT shares.
The bid comes as activist shareholders in TNT have stepped up calls for the company to shake up its board and increase
shareholder value.
TNT this month agreed to appoint several new members to its supervisory board, including two candidates proposed by
American investor Jana Partners, which together with Canada's Alberta Investment Management Corporation (AIMCO)
owns 5 percent. (Reporting by Roberta B. Cowan and Anthony Deutsch)

 

[texan]

TNT Investors Jana, AIMco Sell Stock as UPS Talks Prompts Jump in Shares - Bloomberg

 

[texan]

UPDATE: Jana Withdraws TNT Board Nominations - Source - WSJ.com

 

[TNT Man]

An update for anyone who may be interested. Proposed share price could have been higher but TNT initially stalled on certain conditions with regards to employees. There will be redundancies on both side should this takeover go ahead with " best for the job" being the criteria in the integration process. TNT head office in Holland will become the new UPS head office of europe. UPS in the UK do employ a lot of subcontractors so I would think the would be the first to go with UPS/TNT employees filling these positions as opposed to being made redundant. TNT have in my opinion a top heavy staffing problem at every depot with four managers employed at each then a bunch of office staff which could easily be decimated without impacting operational needs, this is where I think the majority of the cuts will be from. What a lot of UPSers don't realise is that TNT is massive in Europe and Asia in comparison to UPS' we also have a well established road and air network so there will be a long time of integration, probably years but in time it will make UPS a truly global player. We await the regulators decision on whether the merging of the two companies will trigger anti competition laws in certain countries which may allow FEDEX to hive off certain infrastructures which may need to be sold to meet regulatory needs.
J.

 

[beentheredonethat]

Thanks for info. I hear that they are looking for quite a few people in the states to head over for a 2 year special assignment working on merging the two entities. That would have been a fun job and I would have loved to do it. But wouldn't want to miss my kids grown up. I agree, get rid of contractors and keep permanent staff. The technology will have to be merged so that worldwide we are using similar or at least compatible technology. (ie 1Z bar codes, Diad's, scannign in ctrs etc).

 

[Coldworld]

TNT man, are they going to keep TNT branding or will all the vehicles be brown. Are TNT employees all union?? I've heard this will put ups head to head with dhl and pretty much leave fedex in the dust in Europe....true??

 

[TNT Man]

Sorry for taking so long to post. TNT brand gone in 4 to 5 years. TNT very pro union and indeed urge members to join. FEDEX will b smallfry but DHL and FEDEX already looking to anti competition laws.

 

[Lonewoof]

Just read where they are buying TNT. The ironic thing is they just notified retirees in the US that the pension fund is in 'critical condition' and they may have to reduce or cut benefits to anyone that retired after 2008. So they've got money to continue to expand and buy more smaller companies yet cry that our pension fund is in sad shape. I know profits and pension funds are two different things but could they not do the right thing and take care of their own people over here? People that put years of back-breaking labor into the company that were promised a secure retirement? I guess that's just greedy corporate America for you.

 

[Catatonic]

Just read where they are buying TNT. The ironic thing is they just notified retirees in the US that the pension fund is in 'critical condition' and they may have to reduce or cut benefits to anyone that retired after 2008. So they've got money to continue to expand and buy more smaller companies yet cry that our pension fund is in sad shape. I know profits and pension funds are two different things but could they not do the right thing and take care of their own people over here? People that put years of back-breaking labor into the company that were promised a secure retirement? I guess that's just greedy corporate America for you.

UPS has already paid into your pension fund and the Teamsters embezzled/wasted it away.
UPS tried to take over the CS Pension fund and the Union workforce struck over that.
When the UPS Union workforce struck in 1997, many feel that the company was betrayed.
I'm not sure UPS considers Union employees part of the "family" anymore.
Go visit Ron Carey's grave and lament today's UPS.

PS-Not how I personally feel but many, many do feel that way ... except for the people that report to them. Well maybe not in Chicago or NYC.

I feel sorry for the people that started after 1997 and did not do anything to hurt UPS but are still lumped in with the rest.

 

[TNT Man]

Just heard UPS and TNT directors have visited some hubs in the UK with UPS being impressed with our operations but not impressed with the manpower involved to move the freight x dock. Turns out UPS are valuing if it is a viable set up to continue with or to bin it. Seems crazy to buy TNT and to get rid of the freight which makes our company viable. Anyways , UPS, if they decide to go ahead will start the integration in mainland europe giving us Scottish and Brits time to get another job. Boo Hoo !

 

[CAFAL]

Isn't the acquisition in progress? 6. Something billion in cash? Insane. So much for our contract negotiations

 

[UpstateNYUPSer(Ret)]

Isn't the acquisition in progress? 6. Something billion in cash? Insane. So much for our contract negotiations

One has nothing to do with the other.

 

[Europa]

TNT man, are they going to keep TNT branding or will all the vehicles be brown. Are TNT employees all union?? I've heard this will put ups head to head with dhl and pretty much leave fedex in the dust in Europe....true??

Fedex is already in the dust in Europe. They've opened a few freight forwarding offices run by ex UPSers, but on the parcel side they are tiny.