United Parcel Service (UPS: Quote) announced Monday morning that it agreed to acquire TNT Express N.V. for €9.50 per ordinary share. The transaction values TNT Express at approximately €5.16 billion, or US$6.77 billion.
United Parcel Service gapped open higher Monday and has continued to gain ground in early trade. The stock is now up 1.47 at $79.88. UPS has been climbing for the past week and a half and has set a new high for the year.
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by RTT Staff Writer
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