TNT Has Received Offer of EU9 Per Share from UPS
TNT Express N.V. (TNTEY) announces that it has received an unsolicited non-binding and conditional proposal from United Parcel Service, Inc. (NYSE: UPS) for the acquisition of the whole of the issued capital of TNT Express at an indicative price of € 9 per ordinary share.
The TNT Express N.V. Supervisory and Executive Boards have carefully considered the indicative proposal and explored its rationale, merits and risks for shareholders and all other stakeholders.
The TNT Express N.V. boards have rejected the proposal. They have informed UPS accordingly but continue to be in discussions.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.