Deutsche Post has announced that it has made – and had accepted – an offer of £242.7 million for UK Mail. This will position Deutsche Post as the UK’s second largest mail and parcel delivery business, after Royal Mail.
Deutsche Post board members Jurgen Gerdes commented “The ongoing expansion of our parcel network in Europe is driven by increasing demand within our eCommerce customer base for cross border deliveries. Adding ” UK Mail is a well run business and an established provider of quality delivery services in the UK and offers a complementary fit with our integrated offering,”
The deal which offers UK Mail shareholders 440p cash per share is being recommended by UK Mail directors.
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