UPS Targets Lucrative E-Commerce Returns, Healthcare with Acquisitions

United Parcel Service (UPS.N) on Thursday said it is spending more than $1 billion this quarter to buy two companies it hopes will bolster profit and volumes amid bare-knuckled market share battles with delivery rivals like FedEx (FDX.N). The world’s biggest parcel delivery firm on Wednesday announced an agreement to buy Happy Returns from PayPal (PYPL.O), a deal that came roughly a month after it signaled its intent to purchase healthcare specialist MNX Global Logistics. The MNX deal will bolster UPS’s healthcare business that is on track to hit $10 billion this year, CEO Carol Tome said. UPS and FedEx also compete in that sector, which boasts some of the industry’s best margins.

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Source: https://www.reuters.com/markets/deals/ups-targets-lucrative-e-commerce-returns-healthcare-with-acquisitions-2023-10-26

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