UPS

UPS is one of the largest transportation groups in the world. Its operations are principally divided between package and non-package activities. In the US, the company is the market leader within the ground package market.

Since the mid-1990s, UPS has focused on providing complete supply chain solutions rather than simply developing package delivery services. During this period, it established a logistics operation and through acquisitions has grown into one of the largest in the US and is a significant logistics player in Europe. It has also added freight forwarding and banking to its portfolio of services. As one of the 'big 4' integrators, UPS owns and operates a substantial amount of transport assets. 

In 2011 UPS had revenues of $53.11bn.

2012

March - After years of rumours and a comparatively short offer-period, UPS had agreed to buy TNT Express for €5.16bn/US$6.77bn.

In an announcement Monday 19^th, the boards of the two companies issued a joint statement outlining the price and the conditions of the sale. The statement also included a report on the position of the dominant shareholder, PostNL, committing it "irrevocably" to the deal.

It appeared that TNT Express would continue as a separate entity for some time rather than its assets being wholly absorbed into the European divisions of UPS. The statement asserted that "all employee rights, covenants, and benefits under current ownership will be respected." This may have referred to agreements with the workforce over pensions and other benefits which were rumoured to be an important aspect of the negotiations to buy the company.

Importantly the statement also continued; "UPS undertakes to create a meaningful centre of excellence for marketing, sales, and operations in the Netherlands. UPS recognizes the significant value of TNT Express' operations, assets and people in Liège and will seek to continue the future utilisation of these operations, assets and people within the combined group."

This appeared to suggest that the headquarters of UPS in Europe would move to Amsterdam and more clearly that the Liege hub would remain in operation. The implications for existing UPS operations in Europe may have been significant.

UPS was financing the deal out of a mix of US$3bn in cash and "new debt arrangements".