logo
Share SHARE
FONT-SIZE Plus   Neg

UPS, TNT Express Enter Into Agreement On EUR9.50/Shr Recommended All-Cash Offer

United Parcel Service, Inc. (UPS: Quote) and TNT Express N.V. (TNTEY.PK) jointly announced that they reached agreement on a recommended all-cash offer of 9.50 euros per ordinary share for TNT Express. The transaction values TNT Express at about 5.16 billion euros, or $6.77 billion.

The per share offer price represents a premium of 53.7% to the unaffected share price of TNT Express of 6.18 euros on February 16, 2012, the day before TNT Express and UPS announced their on-going discussions.

The transaction is expected to be earnings per share, on an as adjusted basis, accretive in year one. UPS intends to finance the offer by utilizing $3 billion in existing cash on balance sheet and through new debt arrangements.

Moreover, the proposed deal will create additional value for UPS's shareholders by accelerating UPS's international growth, further connecting the world.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
RELATED NEWS
Trade UPS now with 
Follow RTT