UPS (UPS) Ready to Go Another Round with TNT Express in M&A Bid
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To quote the famous Whitney Houston song:
"IIIIIIIIIIIII-eeee-IIIII, will alllways luuuuv yoooouuuuuu-o-o-o-uuuuuuu!"
Despite feeling some resistance a few weeks ago, United Parcel Service (NYSE: UPS) is still planning to make a bid for its Dutch nemesis TNT Express.
Last month, UPS made a €9 per share bid for TNT, amounting to about $6.4 billion. The offer was immediately shot down for being "inadequate."
Reuters said UPS "intended to request approval of its offer documents to Dutch market regulator AFM by May 11 at the latest." An offer much above the previous €9 bid is seen as unlikely, given TNT's recent sour performance.
Also unlikely: UPS peer FedEx (NYSE: FDX) making a go at TNT. Both parties have ruled out that idea.
UPS shares are up modestly Friday.
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"IIIIIIIIIIIII-eeee-IIIII, will alllways luuuuv yoooouuuuuu-o-o-o-uuuuuuu!"
Despite feeling some resistance a few weeks ago, United Parcel Service (NYSE: UPS) is still planning to make a bid for its Dutch nemesis TNT Express.
Last month, UPS made a €9 per share bid for TNT, amounting to about $6.4 billion. The offer was immediately shot down for being "inadequate."
Reuters said UPS "intended to request approval of its offer documents to Dutch market regulator AFM by May 11 at the latest." An offer much above the previous €9 bid is seen as unlikely, given TNT's recent sour performance.
Also unlikely: UPS peer FedEx (NYSE: FDX) making a go at TNT. Both parties have ruled out that idea.
UPS shares are up modestly Friday.
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