FedEx Shuts Out UPS to Win $10.5 Billion Postal Service Deal
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FedEx Corp. won a seven-year contract with the U.S. Postal Service valued at about $10.5 billion to carry mail between U.S. airports, fending off a challenge from United Parcel Service Inc.
The new accord to fly Express Mail and Priority Mail starts in October once the current deal ends, FedEx said yesterday in a statement. The Memphis, Tennessee-based company didn’t give details beyond the value and length of the agreement.