Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade UPS now with 

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.

Click here to receive FREE breaking news email alerts for United Parcel Service and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
With traders seemingly reluctant to make any significant moves, stocks continue to show a lack of direction in mid-day trading on Friday. Nonetheless, the markets are largely holding on to the bulk of their recent gains. On the heels of the violent clashes between local police and protestors in Ferguson, Missouri, Sen. Claire McCaskill, D-Mo., announced that she will hold a Senate hearing in September to examine the militarization of local police departments. UN human rights chief has called attention to "the international paralysis" on finding a solution to the conflict in Syria, which according to her empowered and emboldened the "killers, destroyers and torturers" in the country. UN High Commissioner for Human Rights Navi Pillay on Friday appealed to Governments to take serious measures to halt the fighting and deter the crimes, and above all "sto
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.