Reasons For Buyout
Prior to the buyout of Overnite, FedEx had recently purchased LTL companies American Freightways (on the east coast) and Viking Freight (on the west coast), creating FedEx Freight. UPS spokesman Norman Black told industry news outlet FleetOwner the LTL industry had become attractive due to the increasing economic and strategic attractiveness of the sector: “ attractive because of consolidations and watching the survivors grow and flourish as they’ve been improving operating ratios and developing new types of services customers respond to – especially in time-definite delivery options... That is what Overnite has been forefront of and that’s a huge trend in commerce now. Certainly we see it in the package world."
Read more about this topic: UPS Freight
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