UPS granted extension for TNT Express offer period

UPS and TNT Express have agreed on 9th November 2012 as the new extension deadline in order to fulfil their Offer conditions. 

Image c/o inautonews.com

A regulatory announcement will be made on 5the September by UPS who first their plans to acquire TNT Express back in March. Since the antitrust condition will not be completed before the original expiry date, namely 31st August, UPS has been allowed to extends its Offer Period according to Article 15, p. 1 and 2 of the Decree on public offer Wft. 

According to Analytiqa.com, any tendered shares from the initial offer period may be subject to a withdrawal as defined in the Decree, Article 15, p. 3. 

Both courier companies said that they would stay committed to complete the offer at the end of this year's 4th financial quarter.

Source: Analytqa.com / UPS / TNT Express