Comment / M&A radar: Could scantily clad UPS have Pitney Bowes up its sleeve?

In a week where UPS shares rocketed almost 20% to $144 at the end of July, the only clear head in the room* seemed to be the new CEO, Carol Tomé.

Despite the nominally positive Q2 ’20 results, her first as CEO, the new boss said that outside five core principles (values, dividend, IG rating, brand, employees), “everything else is under review”.

And with what is effectively a record cash pile ($8.8bn) in recent memory thanks to Covid-19, arguing now that UPS has a deal ...