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transport networks and logistics
This page provides some benchmarks from logistics, rail
and other transport networks, and the waste management
sector for acquisitions and disposals during recent telecommunication
booms/busts and the dot-com bubble.
It covers -
There
is a broader discussion of the rail
and shipping revolutions
elsewhere on this site.
rail
In 1929 there were 163 'Class I' railroads in the US,
after 40 years of substantial consolidation. By 2000 consolidation
- particularly from 1982 onwards - resulted in a mere
seven Class I railroads, carrying over 90% percent of
that nation's rail freight. Recent rail deals include
-
-
Burlington Northern merges with St Louis-San Francisco
in 1980
-
Seaboard Coast Line, Chesapeake & Ohio and Baltimore
& Ohio
merge as CSX in 1982
- Louisville
& Nashville and CSX merge in 1982
- Union
Pacific acquires Missouri Pacific for US$1bn and Western
Pacific for US$25m in 1982
- Southern
Railway and Norfolk & Western merge as Norfolk Southern
in 1985
- Southern
Pacific absorbs St Louis South-Western in 1985
- Union
Pacific acquires Missouri-Kansas & Texas in 1991
- Southern
Pacific acquires Denver & Rio Grande in 1995
- Burlington
Northern acquires Santa Fe in 1995 for US$4bn
- Union
Pacific acquires Chicago & North-Western in 1995
for US$1.1bn
- Southern
Pacific merges with Union Pacific in 1996 for US$5.4bn
- Santa
Fe Southern Pacific agrees to sell Southern Pacific
to Rio Grande Industries for US$1.02bn in 1997
- Norfolk
Southern and CSX acquire Conrail in 1998
- CN
buys Illinois Central for US$2.4bn in 1998
- CN
buys Wisconsin Central for C$1.2bn in 2001
- CN
buys publicly owned BC Rail for C$1bn in 2003
- Macquarie
Bank acquires A-Train (operator of Arlanda Express)
for €44m in 2005
shipping
Recent M&A activity includes -
- DP
World (Dubai) buys ferry and port operator Peninsular
& Oriental Steam Navigation (P&O) for £3.88bn
in 2006
-
TUI (Hapag-Lloyd) buys CP Ships for €1.7bn in
2005
- Kvaerner
mergers with Aker in 2005
- A
P Møller-Maersk buys P&O Nedlloyd for US$2.9bn
in 2005
- CMA
CGM buys Delmas for US$600m in 2005
- Møller-Maersk
buys Sea-Land from CSX for US$800min 1999
- Nippon
Orient Line takes over American President Line for US$800m
in 1997
- Preussag
takes over Hapag-Lloyd for US$1.5bn in 1997
Historic
takeovers include -
- Hapag-Lloyd
created through merger of Hamburg-Amerikanische Packetfahrt-Actien-Gesellschaft
(Hapag) and Norddeutscher Lloyd (NDL) in 1970
- Royal
Mail Steam Packet acquires White Star for US$35m in
1927
- British
India Steam Navigation merges with Peninsular &
Oriental Steam Navigation (P&O) in 1914
- P&O
acquires Blue Anchor Line in 1910
For
consolidation in the shipping industry see in particular
Mary Brooks' Sea Change in Liner Shipping: Regulation
& Managerial Decision-Making in a Global Industry
(Oxford: Pergamon 2000) and her 2000 Restructuring
in the Liner Shipping Industry: A Case Study in Evolution
(PDF).
logistics
- Koninklijke
Frans Maas Groep accepts €433m offer from DSV
in 2006
- Electra
Investment Trust agrees to sell Inchcape Shipping Services
to Istithmar for US$285m in 2006
- Brink's
agrees to sell BAX Global to Deutsche Bahn for US$1.1bn
in 2005
- Ferrovial
pays £440m for airport handling company Swissport
in 2005
- Deutsche
Post buys Exel for US$6.8bn in 2005
- DHL
acquires Airborne in 2004
- Exel
buys Tibbett & Britten Group for £328m in
2004
- Deutsche
Post pays US$1bn for Airborne Express in 2003
- Hapag-Lloyd
acquires European rail logistics activities of Brambles
in 2002
- Toll
Holdings acquires Finemores for $120m in 2001
- TNT
Post Group buys US logistics provider CTI Logistx from
CSX for US$650m in 2000
- Ocean
Group and NFC merge as Exel in 2000
- SNCB
buys Thyssen Haniel Logistics from Thyssen in 1998
- KPN
acquires TNT for $2bn in 1996
- Schenker
and BTL merge in 1998
- Stinnes
acquires Schenker in 1991
- Haniel
and Thyssen merge freight forwarding arms as Thyssen
Haniel Logistic in 1998
waste management
Waste management landmarks are -
- CVC
Capital Partners acquires Holding AVR Bedrijven NV (largest
Netherlands waste-management company) from the city
of Rotterdam for €1.4bn in 2006
- Waste
Management merges with USA Waste in US$13bn deal in
1998
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