Results 1 to 1 of 1
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
03-18-2012, 07:56 PM #1
UPS finalizing $6.8 BILLION deal for TNT Express
Reports: UPS finalizing $6.8B deal for TNT
Associated Press 11 mins ago...
NEW YORK (AP) UPS has reached or is close to reaching a deal to buy European package delivery company TNT Express, according to media reports Sunday.
The online editions of the Financial Times and The Wall Street Journal said the deal could be announced Monday. They put the price tag around $6.8 billion, or 5.2 billion.
The newspapers cited unnamed people familiar with the talks.
The offer equates to 9.50 per share. A month ago, TNT rejected an "informal" offer from United Parcel Service Inc. at 9 per share. TNT shares closed Friday at 9.35.
The shares closed at 6.34 before UPS made its initial offer in February.
A UPS spokeswoman said Sunday that she could not confirm the reports, but the company said Friday that it was still in talks and they were "constructive."
TNT did not respond to a request for comment late Sunday European time.
TNT is based in Hoofddorp in the Netherlands. It is Europe's second-largest express delivery company after DHL.
The acquisition would be the biggest ever for Atlanta-based UPS, which is the world's largest delivery company.
TNT has a large incentive to strike a deal: There are no other bidders. If UPS walks away, TNT managers will be left explaining to shareholders why they turned down the initial offer, which was 42 percent above the share price at the time.
TNT's annual meeting is April 11.
Reports: UPS finalizing $6.8B deal for TNT - Yahoo! NewsNO AMNESTY
Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.
Sign in and post comments here.
Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn
Illegal Alien Arrested for Stabbing Fellow Illegal to Death at...
04-23-2024, 01:10 PM in illegal immigration News Stories & Reports