UPS to submit cash offer for TNT Express tomorrow


UPS is due to formally submit its €9.50 per share cash offer for Dutch-owned parcels firm TNT Express tomorrow. The offer has been recommended to shareholders by TNT’s board, with majority shareholder PostNL, which holds nearly 30% of all shares, agreeing to sell its stake under the offer. If agreed, the transaction will create a global logistics firm that generates €45bn revenue per year, with UPS benefitting from an increased presence in Europe, while TNT’s customers will gain access to […]