TNT Hits Highest in Six Months After UPS Bid Report

Discussion in 'The Latest UPS Headlines' started by cheryl, Aug 22, 2008.

  1. cheryl

    cheryl I started this. Staff Member

    TNT Hits Highest in Six Months After UPS Bid Report - Bloomberg

    UPS and TNT may meet to work out a deal over the weekend, with the U.S. company offering 34 euros to 38 euros a share, U.K. newspaper the Times reported today, without citing anyone.

    The time is right for a takeover offer, Berkelder said, as an economic slowdown and increasing fuel costs drive down the stock prices of mail and express-delivery companies. Berkelder, with a ``hold'' recommendation on TNT shares, said he's betting UPS will team up with CVC Capital Partners Ltd., which would buy TNT's postal unit.