Latest News
UPS buys TNT Express for $ 6.73 billion
AMSTERDAM, Netherlands – The United Parcel Service Inc. (UPS) is said to have come to an agreement to buy Dutch rival TNT Express for $ 6.73 billion.
UPS offers an amount of $ 12.40 (9.5 euros) per share, a month after that TNT had refused an amount of $ 11.74 (9 euros) per share.
The American company based in Atlanta said the amount offered per share represented a premium of 54 percent compared to the trading of the TNT on the stock markets since the first offer, which occurred Feb. 17.
It is the largest acquisition ever made by UPS, the world’s largest package-shipping group with annual revenues last year of $53.1 billion and 400,000 employees.