FedEx (FDX) Could Best UPS in Bid for TNT Express, But No One's Talking
Tweet Send to a FriendGet Alerts FDX Hot Sheet
Trade FDX Now!
FedEx (NYSE: FDX) shares are lower Tuesday following the extended holiday weekend as reports have the parcel shipping giant possibly mulling an expansion in Europe.
Last Friday, United Parcel Service (NYSE: UPS) said its bid to acquire TNT Express -- the second-largest package delivery service in Europe -- for €9 per share, or about $6.43 billion, was rejected. Analysts agree that the next suitor in line would be FedEx.
In particular, one analyst from Mutual Series thinks that deal is a once-in-a-lifetime opportunity.
TNT rocketed higher following the disclosure. Shares are already up 76 percent in 2012, leading to a current market cap of about €5.5 billion.
UPS also stated that it and TNT Express were still in talks. TNT has said it's focused on UPS because FedEx hasn't shown interest. Earlier Tuesday, Bloomberg noted receiving correspondence from a FedEx rep which said the company doesn't comment on speculation for rumor.
Currently, FedEx is down about 1 percent and UPS is off 0.3 percent.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Last Friday, United Parcel Service (NYSE: UPS) said its bid to acquire TNT Express -- the second-largest package delivery service in Europe -- for €9 per share, or about $6.43 billion, was rejected. Analysts agree that the next suitor in line would be FedEx.
In particular, one analyst from Mutual Series thinks that deal is a once-in-a-lifetime opportunity.
TNT rocketed higher following the disclosure. Shares are already up 76 percent in 2012, leading to a current market cap of about €5.5 billion.
UPS also stated that it and TNT Express were still in talks. TNT has said it's focused on UPS because FedEx hasn't shown interest. Earlier Tuesday, Bloomberg noted receiving correspondence from a FedEx rep which said the company doesn't comment on speculation for rumor.
Currently, FedEx is down about 1 percent and UPS is off 0.3 percent.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Liberty Global (LBTYA) Interested in Kabel Deutschland - FT
- Yongye (YONG) to Resume Trading on Nasdaq; CEO Wu Shows Continued Interest
- A Sale or an IPO for Nokia Siemens Networks? (NOK)
Create E-mail Alert Related Categories
Mergers and Acquisitions, Rumors
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
