Archive for the 'Mergers & acquisitions' Category

DPWN may consider selling DHL Express U.S. operations

Mergers & acquisitions

A report from the Financial Times Deutschland published yesterday stated that Deutsche Post World Net (DPWN), the parent company of express services and logistics services provider DHL, is contemplating selling DHL’s Express operations in the United States by the end of May as part of a wider turnaround plan that could be announced.

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Temasek and Tui hold merger talks

Mergers & acquisitions

Temasek, the sovereign wealth fund, and Germany’s Tui are in talks to merge their shipping operations in a deal that could see the Singaporean group take a stake of more than 20 per cent in the Hanover-based travel group.

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Strong results position K+N well for future acquisitions

Mergers & acquisitions

Swiss global logistics provider Kuehne + Nagel has announced yet another strong set of quarterly figures suggesting an acceleration in its already high rate of growth. The company’s EBITDA is up 23.2% over the past quarter at CHF241milloin, compared to the past nine months which show a 16% increase. Turnover has increased less vigorously, but is up 17.6% over the quarter compared to 15.7% over the nine month period. EBITDA for the nine months January to September was CHF709million (€426million/$603million).

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Norbert Dentressangle Group makes offer to Christian Salvesen

Mergers & acquisitions

Norbert Dentressangle Group and the Directors of Christian Salvesen are pleased to announce today that they have reached agreement on the terms of a recommended acquisition by way of Scheme of Arrangement by Norbert Dentressangle Group of the entire issued and to be issued ordinary share capital of Christian Salvesen at a price of 92 pence in cash for each Christian Salvesen Share, valuing Christian Salvesen’s fully diluted share capital at approximately £254.4 million (€365.1 million)

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CEVA’s CEO offers up take on global logistics, industry consolidation

Mergers & acquisitions

Logistics Management senior editor Jeff Berman had an opportunity to speak with Pattullo about his new role as CEO of the fifth-largest 3PL (third-party logistics services provider), with slightly more than $7.8 billion in 2006 gross revenues, according to Armstrong & Associates, a supply chain consultancy, and roughly 50,000 employees, operating in more than 100 countries.

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CEVA merger with EGL completed

Mergers & acquisitions

EGL announced that its shareholders, at an annual meeting of shareholders approved the proposed merger transaction with CEVA Group Plc, a UK public limited company owned by affiliates of Apollo Management VI, L.P. CEVA announced the completion of its merger with EGL.

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John Pattullo joins CEVA as new CEO

Mergers & acquisitions

CEVA, a leading global supply chain management company, announces that John Pattullo has joined the company as its new Chief Executive Officer. Pattullo replaces Dave Kulik as CEO of the recently merged companies, CEVA and EGL, which will now operate under the CEVA company name. Also effective today, Kulik will now serve as Vice Chairman of the Board of Directors of CEVA Group Plc.

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Con-way adds CFI to its truckload portfolio

Mergers & acquisitions

In its biggest acquisition in its 24-year history, Con-way is buying privately held Joplin, Mo.-based Contract Freighters Inc. (CFI), the nation’s 22nd-largest truckload carrier, for $750 million. Analysts and company officials hailed the purchase as a strong move by Con-way to enhance its TL presence.

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André Toet (Maersk) to join Port of Rotterdam Authority board

Mergers & acquisitions

The Port of Rotterdam Authority has appointed André Toet to succeed Pieter Struijs, who retires next year, as COO. Toet (43) is currently CEO for Central Europe at Maersk Line. He will join the Port Authority on 1 October and officially take over from Pieter Struijs on 1 January.

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Appointment of new chief hints at problems at Maersk

Mergers & acquisitions

For the first time in over 100 years, Maersk will recruit its Chief Executive from outside the company. The new head of the giant shipping and oil services company, A.P.Moller-Maersk, will be Nils Smedegaard Andersen, presently the head of the Danish brewer Carlsberg. He replaces Jess Soederberg who is leaving the company two years ahead of schedule.

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