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
Shares of Sanofi SA were gaining around 2 percent in the early morning trading in Paris after the French drug giant reported significantly higher profit in its first quarter, benefited by 4.4 billion euros gains from the disposal of its Merial animal healthcare unit and higher sales. For fiscal 2017, Sanofi said it continues to expect Business earnings per share to be stable to negative 3 percent. Shares of UBS Group AG were gaining around 4 percent in the early morning trading after the Swiss banking giant reported Friday significantly higher profit in its first quarter, despite weakness in net interest income. The company also proposed a dividend. Looking ahead, UBS said it is well positioned to mitigate various market challenges... Alphabet Inc. (GOOG, GOOGL), the parent company of Google, Thursday reported an increase in profit for the first quarter, driven largely revenue growth in search and advertising. Alphabet's first-quarter profit rose to $5.43 billion or $7.73 per share from $4.21 billion or $6.02 per share last year. On...
comments powered by Disqus
Follow RTT