Monday, 14 May 2012

UPS to finance TNT acquisition mainly through cash

Today, UPS announced plans to finance the TNT acquisition by using EUR 3.7 billion cash and EUR 1.46 billion in debt credit facilities.

The offer to buy TNT N.V. shares for EUR 9.50 per ordinary share had originally been agreed on 19th March 2012 by both international courier services. UPS is expected to submit its “offer memorandum” to the Netherlands Authority for the Financial markets this afternoon.

Details about the offer will be published some time during the second quarter.

Source: UPS

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