UPS to Purchase TNT Express for $6.8 Billion – Bloomberg

A TNT BAe-146QC is pictured at Brussels, Belgium in October 2010. Photo: Craig Maternowski - OPShots Contributor

United Parcel Service Inc. raised its offer for TNT Express NV by 5.6 percent to 5.16 billion euros $6.8 billion to secure the biggest deal in the U.S. company’s 105-year history and challenge Deutsche Post AG. Olivia Sterns and Maryam Nemazee report on the acquisition on Bloomberg Television’s “On the Move.” Source: BloombergEnlarge image UPS to Buy TNT Express for $6.8 BillionA UPS truck. Photographer: David Paul Morris/BloombergEnlarge image UPS CEO Scott DavisUPS would rely on “attrition first before we have forced redundancies,” Chief Executive Officer Scott Davis said at a press conference in Amsterdam. Photographer: Andrew Harrer/BloombergEnlarge image UPS Said to Reach Agreement to Buy TNT ExpressUnited Parcel Service Inc. reached an agreement to buy TNT Express NV after raising its bid for Europe’s second-largest express delivery service, according to two people with knowledge of the talks. Photographer: Tim Boyle/BloombergEnlarge image UPS Said to Reach Agreement to Buy TNT ExpressTNT Express NV employees process incoming and outgoing freight at Liege Airport in Grace-Hollogne, Belgium. Photographer: Jock Fistick/BloombergUPS, already the world’s largest package-delivery company, will double in size in Europe and vault to equal footing there with Deutsche Post DPW’s DHL, the market-share leader. The tie-up with money-losing TNT will immediately add to earnings on an adjusted basis once the deal is done, Atlanta-based UPS said.

via UPS to Purchase TNT Express for $6.8 Billion – Bloomberg.

About the author

Chuck Slusarczyk Jr.

I started OPShots in June 2006 as a place to share and display aviation photos without the often restrictive policies of other aviation websites. I want to share my love of aviation with fellow aviation geeks and provide a spotlight on Cleveland Hopkins International airport in the process.

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