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 climbed for the majority of the morning. The stock closed up by 2.70 at $81.11, with volume at nearly a 6-month high. UPS has been rising for the past week and a half and set a new high for the year.
by RTT Staff Writer
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