Japan Post has made a 6.5 Billion takeover bid for the Toll Group – Australia’s and Asia’s Pacific’s largest independent logistics group.
Although the bid is subject to shareholder approval it is almost certain that it will be accepted.
Toll Chairman Ray Horsburgh said: “We are delighted to recommend to shareholders that Toll joins with Japan Post. Japan Post is one of the world’s leading postal and logistics companies and Toll is the largest independent logistics group in the Asia Pacific. Together, this will be a very powerful combination and one of the world’s top five logistics companies.”
Not only will the deal provide the Toll Group with access to global forwarding and logistics opportunities from within the Japan Post customer base it will also increase their capability to further erode the Australia Post / StarTrack stranglehold on the provision of delivery services to the ever growing online sales market in Australia.
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