TNT Express-UPS deal to come after Friday: sources - Reuters
United Parcel Service (UPS.N) and TNT Express (TNTE.AS) are unlikely to announce a deal on Friday when they need to update the market about the status of their merger talks, but a deal could come soon after that, sources close to the talks said.
Some shareholders are still hoping for an improved offer, but UPS is seen as unlikely to improve by much its last offer of 9 euros a share, given TNT's poor results and the absence of a counter bidder.
Both parties have ruled out a potential counter bid from FedEx Corp (FDX.N) at this point, the sources said.
United Parcel Service (UPS.N) and TNT Express (TNTE.AS) are unlikely to announce a deal on Friday when they need to update the market about the status of their merger talks, but a deal could come soon after that, sources close to the talks said.
Some shareholders are still hoping for an improved offer, but UPS is seen as unlikely to improve by much its last offer of 9 euros a share, given TNT's poor results and the absence of a counter bidder.
Both parties have ruled out a potential counter bid from FedEx Corp (FDX.N) at this point, the sources said.
