The United Parcel Service (UPS) buy-out of Dutch-based TNT is in the final stage of being concluded, with UPS saying yesterday (Monday) that it will pay an increased US$6.85-billion - up from the US$6.4-bn offered earlier.
This is a deal that will boost the US company’s presence in Europe and create a logistics giant with US$60-bn in sales.
TNT said its executive and supervisory boards unanimously intended to support UPS’s offer of a little less than US$12.50 per share.
TNT’s biggest shareholder PostNL - which owns 29.8%, and was reported to have rejected the primary offer - also said it supported the deal.