Package delivery giant United Parcel Service Inc. (UPS: Quote) on Thursday said it remains in constructive discussions with TNT Express N.V. regarding a potential transaction to acquire the Dutch package delivery firm.
In line with regulatory requirements, UPS said it still has the intention to submit a request for approval of its offer document to the Netherlands Authority for the Financial Markets within 12 weeks from its initial announcement of February 17.
The 4.9 billion euro bid made by UPS in February was rejected by the Dutch company. Recent reports had indicated that the two companies were in talks on the price and terms.
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by RTT Staff Writer
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