FILE - In a Jan. 25, 2007 file photo Brandy Goggin polishes a UPS sign on a UPS truck in New Orleans. United Parcel Service Inc. said Monday March 19, 2012, it has agreed to buy TNT Express NV for $6.77 billion (?5.16 billion). (AP Photo/Bill Haber/file)
FILE - In a Jan. 25, 2007 file photo Brandy Goggin polishes a UPS sign on a UPS truck in New Orleans. United Parcel Service Inc. said Monday March 19, 2012, it has agreed to buy TNT Express NV for $6.77 billion (?5.16 billion). (AP Photo/Bill Haber/file)
FILE - In a Feb. 21, 2012 file photo a TNT delivery truck is seen in Hoofddorp, near Amsterdam, Netherlands. United Parcel Service Inc. said Monday March 19, 2012, it has agreed to buy TNT Express NV for $6.77 billion (?5.16 billion). (AP Photo/Peter Dejong/file)
AMSTERDAM (AP) ? United Parcel Service Inc. says it has agreed to buy TNT Express NV for $6.77 billion (?5.16 billion) in a deal supported by TNT's boards.
UPS's cash offer of ?9.5 per share for TNT ? Europe's second-largest express delivery company behind DHL ? comes a month after TNT turned down a ?9 per share offer. The companies remained in talks.
UPS said Monday the deal is a 54 percent premium to TNT's closing price before the first offer Feb. 17. TNT shares closed at ?9.35 on Friday.
The acquisition would be the biggest ever for Atlanta-based UPS, which is the world's largest delivery company.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
AMSTERDAM (AP) ? United Parcel Service Inc. says it has agreed to buy TNT Express NV for $6.77 billion (?5.16 billion) in a deal supported by TNT's boards.
UPS's cash offer of ?9.5 per share for TNT ? Europe's second-largest express delivery company behind DHL ? comes a month after TNT turned down a ?9 per share offer. The companies remained in talks.
UPS said Monday the deal is a 54 percent premium to TNT's closing price before the first offer Feb. 17. TNT shares closed at ?9.35 on Friday.
The acquisition would be the biggest ever for Atlanta-based UPS, which is the world's largest delivery company.
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