United Parcel Service, Inc. (NYSE: UPS) has confirmed some news that the market was expecting. The company is responding to a rejected buyout offer of close to $6 billion which it made to TNT Express NV.
The company responded that it made a revised offer after discussions with TNT management on 11 February, 2012 and it increased its offer to acquire the entire issued share capital of TNT for 9 Euros per share in cash. UPS further noted that “discussions between the parties concerning this proposal are ongoing…” but left room that no such deal may be reached and that it would update the situation when appropriate.
UPS is down only about 1.3% at $75.77 and its market capitalization is $73 billion for its equity. Keep in mind that its 52-week range is $60.75 to $77.55 and the stock was north of $77.00 earlier this morning. If a company is going to make an acquisition offer, it is better to do it at the top of the 52-week range rather than when it is on a soft spot.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
