An analyst for Bear Stearns & Co. believes YRC Worldwide Inc. is unlikely to be acquired by Deutsche Post AG, Europe’s biggest mail carrier, Bloomberg News reported Wednesday, Sept. 26.
According to the news agency, a Deutsche Post bid for YRC is “extremely unlikely” and “makes little sense” strategically because the Bonn-based company is “still struggling to turn around” its DHL express-delivery unit in the United States, analyst Edward Wolfe wrote in a note.
Bloomberg reported that Wolfe cut his 2008 per-share earnings estimate for YRC by 10 percent to $3. “Demand remains weak and visibility to improved pricing continues to worsen,” the New York-based analyst wrote.
