Japan Post to buy Toll Holdings for $5.1 billion
Acquisition would make Japan Post one of the largest global 3PLs.
By Eric Kulisch |Wednesday, February 18, 2015
Government-owned Japan Post Holdings moved Wednesday to become a significant, global third-party logistics provider, offering A$6.5 billion (U.S. $5.1 billion) offer to acquire Toll Holdings, Australia’s largest freight transportation company. The cash payment of A$9.04 (US$7.05) per share represents a 49 percent premium on Toll’s last closing price. Japan Post said Toll would be run as a division of Japan Post and will retain the Toll name. Toll’s CEO Brian Kruger and the rest of the management team will remain with the company. This is the second time this week a Japanese logistics company has made a major acquisition. Kintetsu World Express on Tuesday bought Singapore-based APL Logistics for $1.2 billion…