Deals
UPS in Talks to Buy TNT Express After $6.4 Billion Bid Rejected
This article is for subscribers only.
United Parcel Service Inc. is pressing ahead with talks to buy TNT Express NV after Europe’s second-largest package-delivery company rejected a $6.43 billion takeover offer.
The “highly conditional” bid of 9 euros a share, 42 percent more than yesterday’s closing price in Amsterdam, was turned down by TNT’s supervisory and executive boards, the Hoofddorp, Netherlands-based company said in a statement. UPS confirmed that discussions were continuing.