Following a July 2024 announcement, in which it said it was going to acquire Mexico City-based express delivery company Estafeta, Atlanta-based global freight transportation and logistics services provider UPS said that is no longer the case. In a Form 8-K statement issued last week, UPS said that it, “terminated its plans to acquire Estafeta due to the inability of all closing conditions to be satisfied.” No additional details were provided by the company. When the deal was first announced in July 2024, UPS said it was expected to be completed by the end of 2024. “Global supply chains are shifting, Mexico's role in global trade is growing, and Mexican SMB and manufacturing sectors are looking for reliable access to the U.S. market. There is no better way to capitalize on these trends than by combining the size and scale of UPS with Estafeta,” said Carol Tomé, UPS chief executive officer, in a statement, when the deal was first announced.