UPS buys Europe's second land tnt,450 billion euros in sales to build logistics giants

Tencent Financial news Beijing time of March 19, the United States joint Parcel Delivery services (United Parcel Service Inc., UPS) will be 5.2 billion euros (about 6.85 billion U.S. dollars) to buy the second largest European express service company TNT Express, The former aims to increase its market share in Europe and create a logistics giant with 45 billion euros in sales.

TNT said its board of directors and the Board of Supervisors unanimously agreed to a 9.50-euro offer from UPS, up from the initial offer of € 9 per share issued last month. POSTNL is TNT's largest shareholder, with a 29.8% stake, and the shareholder has expressed support for the deal.

In a joint statement in Monday, two companies said the increase was a premium of 53.7% per cent over the day before TNT announced a negotiated merger in two companies.

UPS, the world's largest parcel delivery company, has been "coveted" by TNT as a way to help it expand its European market, particularly in the UK, France and Germany and the Netherlands.

The deal ended years of speculation about the future of TNT, which was stripped out last May from the Dutch postal operator POSTNL (PNL) and was listed last year. With profits falling and a gloomy 2012-year outlook, the management of TNT faces huge shareholder pressure, including US hedge fund Jana Partners and Alberta Investment Management.

In Friday, UPS said it was still in "constructive" negotiations with TNT. TNT announced last month that it had rejected the UPS9 euro offer. (瑥 Shang)