Deals
UPS Said to Seek Agreement on TNT Deal as Soon as Next Week
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United Parcel Service Inc. is seeking to reach an agreement to buy TNT Express NV as soon as next week after making progress in discussions on jobs and pensions, according to two people with knowledge of the talks.
Negotiations are now primarily focused on price, said one of the people, who declined to be identified because details are private. TNT may struggle to get much beyond a Feb. 11 offer of 9 euros ($11.86) a share because the stock is at 9.35 euros and the company posted a full-year operating loss, the person said. Talks could still break down, and a deal may not be completed.