Germany’s DHL Group hasn’t been shy entertaining bolt-on M&A this year, bulking up inorganically and trying to buy growth that otherwise it couldn’t deliver.

But its latest deal out of the UK announced yesterday* is a sign of a management team that is on the ball, fully committed to corporate action where it’s worth investing, and taking bold decisions where it is not.

(*According to which: its UK e-commerce subsidiary would merge with domestic parcel delivery firm Evri, with parent DHL Group ...

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