Money doesn’t grow on trees, my late grandma used to argue – vehemently, day in day out.

When a major competitor reports preliminary numbers that suck and that rival is also the global market leader in a highly fragmented segment where your company plans to deliver incremental value to shareholders via extraordinary corporate activity, you may not be faced with a totally insurmountable problem.

But it’s a red flag and it’s entirely possible that somebody takes heed.


So when Deutsche Post DHL, the ...

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