FedEx-Led Group Wins InPost Tender, Valuing It at About $9 Billion

M&A · PartnershipCorporate Action
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Summary · why it matters

A group led by FedEx Corp. secured investor backing in a tender offer ending Sept. 18 that values Polish parcel-locker company InPost at about $9 billion and paves the way for it to delist from the Amsterdam Stock Exchange. The consortium, which includes private equity firm Advent International, offered shareholders €15.60 a share, a sizable premium to the stock's trading level before the bid though still below InPost's €16 IPO price. Unlike a typical takeover, InPost will continue to operate as a standalone company with full operational independence, and founder Rafal Brzoska, 48, will stay on as chief executive officer. FedEx said it does not intend to change InPost's strategy or overhaul its management for at least 18 months following the takeover. The deal gives FedEx access to InPost's infrastructure, including about 70,000 automated parcel machines across nine European countries, and strengthens its position against rivals such as Germany's DHL and French-owned DPD.

Impact on stocks 4

Industrials · 3 stocks
FedEx Corporation
FDX
▲ PositiveCapitalrelevance

FedEx-led consortium won the InPost tender, giving it access to 70,000 parcel machines and strengthening its competitive position in Europe.

Inpost SA
INPST
± MixedCapitalrelevance

InPost shareholders backed a €15.60/share tender valuing it at ~$9B, paving the way for delisting while it continues as a standalone company.

Financials · 1 stocks

Off-coverage companies 2

Advent InternationalPrivate± Mixed
relevance

DPDPrivate± Mixed
relevance