TNT Investors Press for Better Deal From UPS - Bloomberg
TNT Express NV (TNTE), Europe’s second- largest express-delivery service, is facing pressure to seal an improved sale agreement with United Parcel Service Inc. (UPS) as investor confidence in its ability to improve margins flags.
TNT Express, which said Feb. 17 it rejected a 4.89 billion- euro ($6.43 billion) takeover offer from UPS, is seeking a bid higher than the current 9 euros per share, according to a person familiar with the negotiations who asked not to be identified because the talks are private. The bid represented a 42 percent premium on the stock’s Feb. 17 closing price in Amsterdam.
Overlapping operations, particularly in Europe, could produce synergies for UPS in excess of 400 million euros, Amsterdam-based Kepler markets analyst Andre Mulder, who recommends buying TNT shares, said by telephone. A “good price” would be 11 euros, he said.
TNT Express NV (TNTE), Europe’s second- largest express-delivery service, is facing pressure to seal an improved sale agreement with United Parcel Service Inc. (UPS) as investor confidence in its ability to improve margins flags.
TNT Express, which said Feb. 17 it rejected a 4.89 billion- euro ($6.43 billion) takeover offer from UPS, is seeking a bid higher than the current 9 euros per share, according to a person familiar with the negotiations who asked not to be identified because the talks are private. The bid represented a 42 percent premium on the stock’s Feb. 17 closing price in Amsterdam.
Overlapping operations, particularly in Europe, could produce synergies for UPS in excess of 400 million euros, Amsterdam-based Kepler markets analyst Andre Mulder, who recommends buying TNT shares, said by telephone. A “good price” would be 11 euros, he said.
