UPS’s acquisition rationale comes into play - Financial Times
When United Parcel Service, the logistics company, went public in 1999, top executives gave one overarching rationale for the wrenching change to its conservative, operations-focused corporate culture – large-scale acquisitions.
More than a decade later UPS is finally making its move, taking advantage of its greater scale, financial strength and access to capital markets with a €4.9bn offer for TNT Express, the recently spun-off Dutch package delivery company.
TNT has long been seen as the most likely target for the company. “UPS went public in 1999 with one deal in mind,” says one person familiar with the company’s thinking. “That was TNT’s express business.”
When United Parcel Service, the logistics company, went public in 1999, top executives gave one overarching rationale for the wrenching change to its conservative, operations-focused corporate culture – large-scale acquisitions.
More than a decade later UPS is finally making its move, taking advantage of its greater scale, financial strength and access to capital markets with a €4.9bn offer for TNT Express, the recently spun-off Dutch package delivery company.
TNT has long been seen as the most likely target for the company. “UPS went public in 1999 with one deal in mind,” says one person familiar with the company’s thinking. “That was TNT’s express business.”
