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

Editors Pick
Stocks moved sharply higher over the course of the trading day on Tuesday, extending the recovery from the sell-off seen in recent weeks. The Nasdaq and the S&P 500 closed higher for the fourth consecutive session but remain well off their mid-September highs. Despite indications that the spread of Ebola inside the U.S. has been contained, the results of a new Gallup poll show the deadly disease had made its debut on a list of the top 10 most important problems facing the country. In another hotly contested Senate race, the results of a new Suffolk University/Boston Herald poll show incumbent Sen. Jeanne Shaheen, D-N.H., clinging to a narrow lead over Republican challenger Scott Brown.
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.