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UPS Sees TNT Acquisition Closing in Fourth Quarter

United Parcel Service Inc. (UPS) said its proposed acquisition of TNT Express N.V. (TNTE.AE, TNTEY) is expected to close in the fourth quarter as European Union regulatory authorities need more time to analyze certain areas of the deal. UPS said the European Commission's review of the deal is expected to move to a Phase II review, which can take up to 25 weeks to complete. The shipping giant said it is likely the offer condition relating to competition clearance will not be satisfied by the end of the initial offer period and said it expects to extend the offer period beyond Aug. 31. The company had previously expected the deal to close in the third quarter. In March, UPS reached an agreement to acquire TNT in a deal valuing the Dutch package shipper at around EUR5.16 billion. TNT Express is the smallest of the big four global package shippers, and while it has struggled somewhat in recent months, the merger would give UPS a market-leading position in Europe to round out its big domestic U.S. presence and expanding Asian business. In April, UPS reported its first-quarter earnings rose 6% on stronger profits in its U.S. package and supply chain and freight businesses, though profit in its international package unit declined. Shares closed at $79.44 Friday and were unchanged after hours. The stock is up 8.5% since the start of the year. Write to Nathalie Tadena at [email protected]

Stock News for Ups (UPS)
DateTimeHeadline
02/23/201709:30:00UPS Breaks Ground On New Salt Lake City Regional Operations Facility
02/22/201707:00:00UPS a remis plus de 2 millions de dollars aux collectivités...
02/22/201707:00:00UPS contributed more than C$2 million to Canadian communities
02/21/201713:53:00UPS to Start Ground Deliveries on Saturdays
02/21/201712:00:00UPS met à l'essai un système de livraison résidentielle par dr...
02/21/201712:00:00UPS tests residential delivery via drone launched from atop package...
02/21/201710:35:27Current Report Filing (8-k)
02/21/201710:25:00UPS Tests Residential Delivery Via Drone Launched From Atop Package...
02/21/201710:15:53UPS Accelerates Transformation Of Its Smart Logistics Network
02/21/201706:51:39Annual Report (10-k)
02/20/201710:00:00UPS Honors Arizona Drivers for 25 Years of Safe Driving
02/20/201710:00:00UPS Honors Idaho Drivers for 25 Years of Safe Driving
02/20/201710:00:00UPS Honors New Mexico Drivers for 25 Years of Safe Driving
02/20/201710:00:00UPS Honors North Dakota Drivers For 25 Years of Safe Driving
02/20/201710:00:00UPS Honors South Dakota Drivers For 25 Years of Safe Driving
02/20/201710:00:00UPS Honors New York Drivers For 25 Years Of Safe Driving
02/20/201710:00:00UPS Honors Maine Drivers for 25 Years of Safe Driving
02/20/201710:00:00UPS Honors Virginia Drivers for 25 Years of Safe Driving
02/20/201710:00:00UPS Honors Ohio Drivers for 25 Years of Safe Driving
02/20/201710:00:00UPS Honors Massachusetts Drivers for 25 Years of Safe Driving

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