Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nyse  >  FedEx Corporation    FDX

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

FedEx Corporation : FedEx In Talks To Buy French Express Shipping Firm Tatex

04/17/2012 | 10:39am US/Eastern

FedEx Corp. (FDX) is in talks to potentially acquire Tat Express, a French express-transportation company, as it looks to further its European expansion plans.

Tatex, founded in 1976, has more than 1,000 employees and carries more than 19 million parcels a year, representing an annual turnover of about EUR150 million ($196.6 million).

Express shipper FedEx agreed earlier this month to acquire Opek Sp.z o.o., a privately held Polish shipping company.

The moves come as rival United Parcel Service Inc. (UPS) reached a blockbuster $6.8 billion deal last month for Dutch shipper TNT Express as it sought to strengthen its European operations. Analysts at the time said the bid was a "strategic block" that took away FedEx's most likely entry into the European ground market.

Last month, FedEx said it was reducing capacity in its U.S. domestic express business, where volume slumped 4% in its fiscal third quarter ended Feb. 29. FedEx was slightly more upbeat regarding its international express business, saying metrics have been improving. Volume slumped 1% in FedEx's international priority shipping, although international domestic volume climbed 51%, boosted significantly by recent acquisitions.

-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

React to this article
Latest news on FEDEX CORPORATION
08:18a FEDEX : Electronic Payments Expands its Facilities – Will Open Dedicated S..
08/31 FEDEX : OPINION: No floor to anti-immigration rhetoric in GOP presidential campa..
08/31 FEDEX : Blair, Summerhays, Finau finish strong at Barclays
08/31 FEDEX : Christie defends plan to use FedEx tech to track immigrants
08/31 MICROSOFT : Power Home Remodeling Group Tapped for Selling Power's'50 Best Compa..
08/31 FEDEX : Pilot Union's council supports new contract
08/31 HILTON WORLDWIDE : New appointment for Hilton Worldwide
08/29 FEDEX : EPIcenter launches logistics innovation booster
08/29 FEDEX : Republican Christie proposes tracking immigrants like FedEx packages
08/28 FEDEX : employees deliver for sick colleague
Advertisement
Chart
Duration : Period :
FedEx Corporation Technical Analysis Chart | FDX | US31428X1063 | 4-Traders
Income Statement Evolution
More Financials