Good things come to those who wait, or in UPS' case, to those who pay.
Today, the United Parcel Service (UPS) and TNT Express N.V. released a joint statement confirming the all-cash offer of EUR 9.50 per ordinary share for TNT Express. This represents a premium of 53.7% compared to initial unaffected share price of EUR 6.15 from 16th February 2012 before the discussions started.
In total, TNT Express is now valued at approximately EUR 5.16 billion ($6.77 billion).
Both carriers have promised to create a customer-focused platform whilst also integrating TNT Express' intra-European road freight network and expanding UPS' position in the Asia Pacific and Latin American market.
Further information can be found on the UPS website.
Source: UPS
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