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Fedex copying UPS again...
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<blockquote data-quote="montecarlo11" data-source="post: 56806"><p>upsdawg, </p><p>paid in cash, (ohhh yea..i mean credit) </p><p> </p><p> FedEx Corporation (NYSE:FDX) and Clayton, Dubilier &amp; Rice, Inc., today jointly announced an agreement for FedEx to acquire Kinko's for $2.4 billion, payable in cash. The transaction is not expected to have a material impact on fiscal 2004 results but is expected to be accretive to earnings in fiscal 2005, which begins June 1, 2004. </p><p> </p><p> </p><p>MEMPHIS, Tenn.--(BUSINESS WIRE)--Aug. 9, 2004--FedEx Corp. (NYSE:FDX) today announced an agreement to acquire Parcel Direct, a division of Quad/Graphics, for $120 million in cash. Parcel Direct is a leading parcel consolidator and will add a new dimension to the FedEx portfolio of services. The transaction is expected to close during the second fiscal quarter and is subject to customary conditions, including Hart-Scott-Rodino clearance. Based on Parcel Direct's current size, this acquisition is not expected to have a material effect on the fiscal 2005 financial results of FedEx.</p></blockquote><p></p>
[QUOTE="montecarlo11, post: 56806"] upsdawg, paid in cash, (ohhh yea..i mean credit) FedEx Corporation (NYSE:FDX) and Clayton, Dubilier & Rice, Inc., today jointly announced an agreement for FedEx to acquire Kinko's for $2.4 billion, payable in cash. The transaction is not expected to have a material impact on fiscal 2004 results but is expected to be accretive to earnings in fiscal 2005, which begins June 1, 2004. MEMPHIS, Tenn.--(BUSINESS WIRE)--Aug. 9, 2004--FedEx Corp. (NYSE:FDX) today announced an agreement to acquire Parcel Direct, a division of Quad/Graphics, for $120 million in cash. Parcel Direct is a leading parcel consolidator and will add a new dimension to the FedEx portfolio of services. The transaction is expected to close during the second fiscal quarter and is subject to customary conditions, including Hart-Scott-Rodino clearance. Based on Parcel Direct's current size, this acquisition is not expected to have a material effect on the fiscal 2005 financial results of FedEx. [/QUOTE]
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