EC Opposes UPS (UPS) Acquisition of TNT Express
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FedEx (FDX) in No Rush to Place Bid for TNT Express (UPS)
January 15, 2013 10:12 AM ESTFedEx (NYSE: FDX) was expected to place a bid for TNT Express after a $6.9 billion takeover deal from United Parcel Services (NYSE: UPS) faded away on Monday. But, a proposal may not come along too soon.
... More
Deutsche Bank Upgrades UPS (UPS) to Buy as TNT Bid Fails
January 14, 2013 11:27 AM ESTDeutsche Bank upgraded UPS (NYSE: UPS) from Hold to Buy with a price target of $92.00 (from $83.00) after the failed TNT deal.
The firm sees more aggressive capital deployment and fewer headwinds constraining shares performance following the announcement.
For an... More
FedEx (FDX) Active as UPS (UPS) Plan for Broader European Presence Nixed by EC
January 14, 2013 7:56 AM ESTFedEx Corp. (NYSE: FDX) is on watch today following news that the European Commission (EC) is opposing United Parcel Service's (NYSE: UPS) bid to acquire TNT Express. UPS will pay a 200 million termination fee to TNT Express.
Shares of FedEx are indicated higher Monday morning.... More
UPS (UPS) to Acquire TNT Express in $6.77B Deal
March 19, 2012 6:30 AM EDTUnited Parcel Service, Inc. (NYSE: UPS) and TNT Express N.V. have reached agreement on a recommended all-cash public offer of 9.50 per ordinary share by UPS for TNT Express (the Offer). TNT Express Executive and Supervisory Boards unanimously intend to support and recommend the Offer.
The offer price of 9.50 (including any dividend or other distribution other than the financial year 2011 final dividend payment not exceeding 0.004 per share) represents a 53.7% premium to TNT Express unaffected share price on February 16, 2012 of 6.18, the day before TNT Express and UPS announced their ongoing discussions. The Offer values the issued and outstanding share capital of TNT Express at 5.16 billion ($6.77... More
