3/19/2012 2:30:00 PM
Write a Letter to the Editor
$6.8 Billion Deal Is Company’s Largest
Tweet
Print This
UPS Inc.
UPS Inc. said Monday it will acquire Netherlands-based TNT Express, after boosting its offer for the Dutch package firm to 9.5 euros per share, from a previous 9 euros per share.
That price is 53.7% over TNT’s share price on Feb. 16, before UPS and TNT announced talks about a possible acquisition, the two said in a joing statement Monday released by UPS.
The approximatly $6.8 billion deal is UPS’ biggest purchase, topping its 2005 acquisition of less-than-truckload company Overnite Corp. for about $1.25 billion, Bloomberg reported.
UPS controlled 7.7% of the European express-parcels market in 2010, compared with FedEx Corp.’s 3.3% and TNT’s 9.6%, Bloomberg said. Deutsche Post AG’s DHL unit is the leader in the region, with 17.6%.
UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
Follow Transport Topics on RSS Twitter Facebook
Tweet
Print This
© 2012, Transport Topics Publishing Group. All rights reserved.
RELATED ARTICLES
Letters: CSA Scores, Number Play (3/19/2012 8:00:00 AM)
Senate Passes Highway Bill (3/19/2012 4:00:00 AM)
Diesel Jumps 2.9¢ to $4.123; Gasoline Rises 3.6¢ to $3.829 (3/19/2012 3:50:00 AM)
Trucking Officials Blast FMCSA Over Crash-Fault Review Delay (3/19/2012 3:45:00 AM)
TCA’s New Leader, Robert Low, Eager to Improve Driver Health (3/19/2012 3:15:00 AM)
ATA Poised to Challenge HOS Rule On Restart, Breaks, Local Drivers (3/19/2012 3:00:00 AM)