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FedEx Freight | Closing of the Sale

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spirited

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Does anyone have any idea how close we are to losing WML? Watkins has been a very good family oriented company in reference to the drivers and doing what they could to keep them happy. I pray that such a relationship continues with FEDEX NATIONAL.
 
spirit said:
Does anyone have any idea how close we are to losing WML? Watkins has been a very good family oriented company in reference to the drivers and doing what they could to keep them happy. I pray that such a relationship continues with FEDEX NATIONAL.
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Fedex is a very good company to work for. They are very reasonable with all issues-including family. I hope that the Watkins family will agree. Welcome to Fedex. Nina
 
spirit said:
Does anyone have any idea how close we are to losing WML? Watkins has been a very good family oriented company in reference to the drivers and doing what they could to keep them happy. I pray that such a relationship continues with FEDEX NATIONAL.
Click to expand...
Our bi-weekly dispatcher said Fed-Ex filed official papers with the fed. gov. on June 16 and it will take 30 days from then to get there approval on the deal. At that time the companys can and will fill us in on many things about the sale that cannot be discussed until then. Rick
 
Here are the rumors that i heard of as of today. I heard the Deal is done and we are good to start being fed ex really soon, and the other thing i heard is that their are 100 fedex national trucks sitting in AZ. waiting to be delivered!!!
 
Socal_driver said:
Here are the rumors that i heard of as of today. I heard the Deal is done and we are good to start being fed ex really soon, and the other thing i heard is that their are 100 fedex national trucks sitting in AZ. waiting to be delivered!!!
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I would add to this that I was told by my TM Yesterday (Weds) that the feds approved the sale Fri the 7 and that around Aug 1 st each TM will recieve a box with information packets for current employees and contractor which will include Job application which must be filled out and returned within 5 days of receipt or face termination, also that a nurse will go to every termial and preform drug test.The goal is to complete the sale on Aug. 31 ( end of third quarter) and become National on Sept 1.:bgroovy: .....He also added that P&D contractors will be offered blue book price plus some for there trucks and they will even buy there dollies.(To those that stay of course):rolleyes:
This apporval means Fed-EX and Watkins are free to discuss terms of the sale, future plans ect. openly so it won't be long now.
I wonder when they will start answering all those unanswered questions.:rolleyes::tribehasspoken:
 
I posted this in another thread.....

This is from http://www.easybourse.com/Website/dy...NewsRubrique=2


FedEx Has Antitrust OK To Buy Watkins Motor Lines

WASHINGTON -(Dow Jones)- FedEx Corp. (FDX) has received antitrust clearance from the Federal Trade Commission to acquire the less-than-truckload operations of Watkins Motor Lines and certain affiliates for $780 million in cash.
The FTC said Tuesday that it granted early termination on Monday of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act.
FedEx said in a press release May 26 that as part of the deal it also agreed to acquire the assets of Watkins Motor Lines' business in Canada, Watkins Canada Express.
Memphis-based FedEx expects the deal to close in the first quarter of fiscal 2007 but doesn't expect it to have a material impact on fiscal 2007 results, said the press release in May.
The Hart-Scott-Rodino law requires under certain circumstances that prospective acquirers of voting securities or assets apply for clearance from regulators. Requests for early termination or clearance are granted when the FTC and the Justice Department's antitrust division have determined that they won't take enforcement action during the waiting period.
Watkins will operate as a separate network within the FedEx Freight segment.
-By Ingrid Pedrick Lehrfeld, Dow Jones Newswires; 202-862-1361
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