TNT Express not expecting bid from FedEx: source

Discussion in 'The Latest UPS Headlines' started by cheryl, Feb 24, 2012.

  1. cheryl

    cheryl I started this. Staff Member

    TNT Express not expecting bid from FedEx: source - Reuters

    Dutch delivery firm TNT Express (TNTE.AS) is not expecting U.S. rival FedEx (FDX.N) to trump a 4.9 billion euros ($6.5 billion) takeover bid from United Parcel Services (UPS.N), a source close to TNT said on Thursday.

    "The last discussion we had with them (FedEx) didn't give us the impression that they were ready to make a move," the source said, adding he had sounded out FedEx's intentions very recently.

    Some analysts said FedEx could be better off scooping up assets that competition regulators might require UPS to sell if it succeeds in winning over its Dutch target.