AP
FedEx Acquires ANC Holdings for $234.3M
Monday December 18, 8:25 am ET
FedEx Buys ANC Holdings in U.K. for 120 Million Pounds, or $234.3 Million

NEW YORK (AP) -- Package deliverer FedEx Corp. on Monday said it acquired ANC Holdings Ltd., a U.K. domestic express transportation company, for 120 million pounds sterling ($234.3 million).

FedEx said the deal allows it to directly serve the entire U.K. domestic market. In the U.K., ANC has a staff of 4,500 people, 2,200 vehicles and 80 office locations.

ANC management will remain in place and report to FedEx president of Europe, Middle East, Africa and the Indian subcontinent, Robert W. Elliott.

JPMorgan Cazenove was financial adviser to FedEx on the deal while KPMG advised ANC Holdings.