Business Services Industry
Deutsche post to buy Exel for $6.8 billion: acquisition will bring the German conglomerate closer to its goal of becoming the world's largest provider of logistics services.(NEWS & ANALYSIS)
Logistics Management (Highlands Ranch, Co.), October, 2005 by Schulz, John D.
BONN/LONDON -- Deutsche Post's (DP) buying binge continues with its pending purchase of Exel, the United Kingdom's largest contract logistics company, for approximately $6.8 billion. DP's largest international acquisition follows its purchase of Airborne Express two years ago for just over $1 billion and DHL Worldwide Express for $2.9 billion in 2002.
That's nearly $11 billion in outlays in less than four years as Deutsche Post expands globally in search of freight, customers, and profits. The DP-Exel combination will create a $67 billion giant--a prospect that is sending shock waves through the logistics, air freight, and third-party logistics (3PL) sectors.
It's all part of DP's strategic diversification, a plan to move away from its...
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