European cold chain logistics the centre for mergers and acquisitions

New York, US: The European logistics centre has become the focus for cash rich companies reports the Wall Street Journal. It cites recent deal activities such as acquisition by United Parcel Service of smaller rival TNT Express NV last month and FedEx purchase of privately held Polish shipping company Opek.

Analysts said the recent deal activity suggests that cash-rich companies in the logistics sector are looking to put their money to work. Investment bank Morgan Stanley noted that prospects for an increased level of merger and acquisition activity across all sectors are reasonably good in Europe, the newspaper said.  Morgan Stanley  cite healthy balance sheets and cash flows for European companies, return on equity that is above historical averages as well as higher share prices.

KPMG’s European head of transport transactions, Steffen Wagner, believes Europe is set to be at the centre of merger and acquisition activity in the highly fragmented logistics sector.  “Opportunities [for deals] will be in temperature-sensitive transport and food logistics, pharmaceutical and chemical logistics and the transport of hazardous products,” Wagner told the newspaper.

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