Monday, 20 February 2012

TNT Express N.V. rejects UPS unsolicited offer

Image c/o TNT Express
In statement published last Friday, TNT Express N.V. confirmed its decision to reject an unsolicited proposal for share capital from UPS.

The Atlanta-based courier, UPS, offered an acquisition of the full issued share TNT capital for €9 per share. According to TNT Express, the worldwide parcel service had put down its offer on 11th February 2012.

Since then TNT Express N.V. Supervisory and Executive Boards had discussed the matter. The talks resulted in a rejection of UPS' initial proposal.

Nevertheless, the two courier companies have stated that they will continue their discussions. However, there is no certainty about a possible outcome yet.

Source: TNT Express & UPS

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