TNT Rejects Takeover Bid by UPS

Package delivery giant UPS has made an unsolicited offer (i.e., hostile takeover attempt) to acquire Dutch package delivery company TNT Express, at a price of €9 (roughly US$12) per share, in a deal that would be valued at $6.4 billion. In a statement, TNT’s supervisory and executive boards said that they “carefully considered the indicative proposal and explored its rationale, merits and risks for shareholders and all other shareholders” before rejecting the proposal.

UPS confirmed that it did indeed make an offer for TNT. The two companies continue to be in discussions.

Over the years, both UPS and FedEx have reportedly shown interest in acquiring TNT, one of the largest package delivery companies in Europe.