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) 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
Even after two years of thoroughly searching across the Indian Ocean, using modern technologies and devices, there is no clue about the Malaysian airline that vanished on March 8, 2014. Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform.
comments powered by Disqus
Follow RTT