It’s been a tough year for Toll – and it now appears to be up for sale. After the extraordinarily high-priced acquisition by Japan Post in 2015, for $4.64bn, the pair seem to have eluded success. And, according to Reuters, Japan Post is sounding out brokerage firms to get advisors for the deal. It...
Many have argued in the past year and even more so recently, that if DSV had known then what it knows now about the books at Panalpina (PAN) – due diligence was somewhat scant, as DSV fairly conceded in the early days of the integration – it would have probably looked elsewhere, anywhere, in order to strike a multi-billion dollar deal.
With all its contradictions and a bloated cost base, the …
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Toll Group has denied it is to be sold by owner Japan Post (JP).
Toll MD Thomas Knudsen told staff today today JP had “dismissed the rumours”. (You can read more insight into this story on Loadstar Premium here.)
“You might be aware of speculation in the Australian media about plans by Japan Post to sell our business,” he wrote. “Our shareholder has told us there are no plans to sell all or …
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Our Premium sources have been on fire recently, and thankfully so with regard to the latest shocking developments at Australia’s Toll Group.
Here is a quick recap: seriously troubled financially, the integrated logistics company is scouting for a buyer, any buyer, that could make sense of it, one way or another.
Or, rather, fix what might be left of the once-glorious group as the de-boning continues.
Devastation
Now glance at the end table below, …
The post M&A radar: Mullen exit rumoured, Japan...
https://theloadstar.com/jo-1-of-2-toll-mullen-exit-jp-sale-value-expectations/
On 1 April, Toll Group CEO Thomas Knudsen sent a message to all employees at 5.40pm local time.
Part of it was leaked to the press: In a story headed “Toll Group CEO takes 40% pay cut” (link), The Australian Financial Review (AFR) last week reported that:
“Knudsen, will take a 40% pay cut for the next six months and move some staff to a four-day week, as the logistics group struggles with the loss …
The post Supply chain radar: Toll Group CEO – ‘actioning every possible option with urgency’...
I had a long chat with a senior Deloitte manager out of the United States some time ago and he warned me about the perils of trying to address logistics issues with a touch of genius that only consultancy firms enjoy at times.
What works on paper, he argued, is often not worth the paper it’s...
https://theloadstar.com/market-insight-toll-group-the-bell-is-tolling-for-mr-mullen/
“Toll is continuing to review our operational performance around the world to ensure we are set up to drive simpler, more focused operations for our customers. We have no intention to separate any divisions or business units, nor is this part of our strategic agenda.” – Toll Group, 10 April 2019, responds to Premium which inquired about the possibility of a break-up of the group.
My win is your loss is a mantra …
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That Japan Post doesn’t know what to do with Australia’s Toll Group is well known and on everybody’s lips in my logistics circles.
When Michael Byrne was still leading this horror show, the company told Premium that managers were committed to turn things around, as if they had both plenty of time and the necessary resources to act swiftly and sort out the trouble they found themselves in.
When I talked to the company, …
The post Market Insight: The Toll Group horror show, one nasty piece at a...
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There is growing speculation among my banking and trade sources that the global restructuring of Australia’s Toll Group might lead to the separation of certain “non-core assets” from the rump of the company’s portfolio, although the company has denied this.
As we pointed out in the previous Market Insight commentary on Monday – which extensively covered the global restructuring currently under way at Toll – a trade sale of the whole …
The post Supply chain radar: Toll Group rules out drastic...
Toll Global Forwarding has confirmed it is set to close a number of its locations in the US, resulting in redundancies, as it embarks on a global restructuring plan.
A company spokesperson told The Loadstar today: “Like any well-run business, Toll continues to review our operations to ensure we are set up in the right way to support our customers and simplify our operations.
“In the US we are introducing a simpler …
The post Toll Global Forwarding confirms the closure of four US offices, with ‘a...