BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[FedEx falls short in bid for India's SafeExpress]]>http://www.bloggingstocks.com/2007/07/12/fedex-falls-short-in-bid-for-indias-safeexpress/http://www.bloggingstocks.com/2007/07/12/fedex-falls-short-in-bid-for-indias-safeexpress/http://www.bloggingstocks.com/2007/07/12/fedex-falls-short-in-bid-for-indias-safeexpress/#commentsFiled under: , , , ,

FedEx Corp. (NYSE: FDX)'s dream of entering India's domestic logistics business has failed with the withdrawal of its bid for SafeExpress, one of the largest Indian logistics companies. Had the deal been approved, it would have given FedEx quite a large chunk of the express cargo, third party logistics and warehousing segment.

Instead, FedEx wasn't willing to pay the high price that SafeExpress demanded, sources close to the deal told The Economic Times. SafeExpress founder and managing director Pawan Jain valued his company at Rs2000 crore, nearly $500 million. FedEx was willing to spend up to Rs1800 crore, or $445 million, for the Indian logistics company.

The move hurts FedEx's chances of successfully entering India's domestic logistics segment through a strategic acquisition. Competitors DHL and TNT (OTC: TNTTY) have already been successful in finding a logistics company in India, with DHL acquiring 81% of Blue Dart for Rs 730 crore, or $181 million, in 2004 and TNT's acquisition of Speedage, a division of ARC India last year, for Rs200 crore, or $50 million.

The lack of an acquisition also hurt SafeExpress, after a multitude of regional managers and operational leaders from various divisions have left the company in the past eight months, unsure of the company's future. On the topic of acquisitions, this weekend Barron's said that FedEx themselves could be a private-equity target.

FedEx falls short in bid for India's SafeExpress originally appeared on BloggingStocks on Thu, 12 Jul 2007 16:34:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>acquisitionblue dartBlueDartdhlfdxfedexindialogisticspawan jainPawanJainsafeexpresstakeovertheflyonthewall.comtnttnttytransportationThu, 12 Jul 2007 16:34:00 EST<![CDATA[Newspaper wrap-up 7-11-07: Dell to eliminate trialware in some new computers]]>http://www.bloggingstocks.com/2007/07/11/newspaper-wrap-up-7-11-07/http://www.bloggingstocks.com/2007/07/11/newspaper-wrap-up-7-11-07/http://www.bloggingstocks.com/2007/07/11/newspaper-wrap-up-7-11-07/#commentsFiled under: , , , , ,

MAJOR PAPERS:
  • Thanks to a downturn in sales, sportswear maker Liz Claiborne Inc (NYSE: LIZ) will seek to divest itself of 16 of its 36 apparel brands, equal to about $800 million of its $5 nillion in annual revenue, reported the Wall Street Journal (subscription required)
  • The Financial Times (subscription required) reported that Dell Inc (NASDAQ: DELL) has listened to customer concerns and has moved to eliminate "trialware" from a range of small business laptops and desktops computers.
OTHER PAPERS:
  • British mining company Rio Tinto plc (NYSE: RTP) is believed to be preparing a $34 billion, or $90 per share, takeover bid for Canadian aluminum company Alcan Inc (NYSE: AL), reported the U.K. Times.
  • According to the Economic Times, FedEx Corporation (NYSE: FDX) has failed in its attempt to buy out Indian logistics company SafeExpress.
  • The Chicago Tribune reported that the U.S. faces an "increased risk" of a terror attack this summer, according to U.S. Homeland Security Secretary Michael Chertoff.

Newspaper wrap-up 7-11-07: Dell to eliminate trialware in some new computers originally appeared on BloggingStocks on Wed, 11 Jul 2007 09:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alalcanchicago tribuneChicagoTribunedellfdxfedexfinancial timesFinancialTimesfthomeland securityHomelandSecuritylizliz claiborneLizClaibornelondon timesLondonTimesmichael chertoffMichaelChertoffnewspaperpaperperiodicalrio tintoRioTintortpsafeexpressterrorterrorismterroristtrialwareuk timesUkTimeswall street journalWallStreetJournalwsjWed, 11 Jul 2007 09:15:00 EST