Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

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
11:21a FEDEX : Newly Negotiated Shipping Rates with DHL and FedEx Allowing My Mail Forw..
08:26a FEDEX : Two injured in separate traffic accidents
07/28 UPS second-quarter profit tops estimates; sees sluggish U.S. economy
07/24 FEDEX : Entry into a Material Definitive Agreement (form 8-K)
07/24 FEDEX : Judge affirms $165.5M verdict in Las Cruces-area crash
07/24 FEDEX : cuts outbound service transits from seven cities
07/23 FEDEX : Ground Proposes Regional Hub At Former Aetna Site In Middletown
07/23 FEDEX : to Send 150 Drivers to National Truck Driving Championships; Competitors..
07/23 FEDEX : Orders 50 Boeing 767 Freighters
07/22 FEDEX : Record $165.5M verdict upheld in FedEx crash
Duration : Period :
FedEx Corporation Technical Analysis Chart | FDX | US31428X1063 | 4-Traders
Income Statement Evolution
More Financials