UPS Nears Acquisition of Europe’s TNT (UPS, TNTEY)
US package delivery giant United Parcel Service Inc. (NYSE: UPS) is rumored to be near an agreement to acquire Europe’s second-largest delivery service, Dutch-listed TNT N.V. (OTC: TNTEY) for more than $6.5 billion. TNT has already rejected a $6.5 billion…
US package delivery giant United Parcel Service Inc. (NYSE: UPS) is rumored to be near an agreement to acquire Europe’s second-largest delivery service, Dutch-listed TNT N.V. (OTC: TNTEY) for more than $6.5 billion. TNT has already rejected a $6.5 billion buyout from UPS.
According to a report at Bloomberg News, an announcement may come as early as next week. The report cites unnamed sources who claim that “[t]he two sides are close to a deal on both price and conditions attached to the offer that may lead to job cuts and require divestitures to win antitrust approval.”
UPS must clarify its intentions by March 16th under the terms of Dutch law.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.