UPS has neither embarked on, nor hinted at, blockbuster M&A in decades.
Not that I recall, anyway.
It lost out to FedEx in its pursuit of TNT Express years ago, but that was multi-billion B2C-focused deal-making.
In those days, nonetheless, it snapped up Coyote Logistics for $1.8bn – a then-bolt-on for the Atlanta-based integrator, which had to digest the win from Memphis*.
(*Where, incidentally, fast forward to these days: belt-tightening is on track… while goading …
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