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The Latest UPS Headlines
TNT to sell airline operations to help secure $6.58B UPS deal
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<blockquote data-quote="cheryl" data-source="post: 1056515" data-attributes="member: 1"><p><a href="http://www.bloomberg.com/news/2012-11-16/tnt-express-to-sell-airline-operations-to-secure-ups-deal.html" target="_blank"><strong></strong></a></p><p><a href="http://www.bloomberg.com/news/2012-11-16/tnt-express-to-sell-airline-operations-to-secure-ups-deal.html" target="_blank"><strong>TNT Express to Sell Airline Operations to Secure UPS Deal - Bloomberg</strong></a></p><p></p><p>TNT Express NV (TNTE) agreed to sell its airline operations to ASL Aviation Group Ltd. in an effort to safeguard a deal to combine with United Parcel Service Inc. (UPS)</p><p></p><p>The transaction is conditional on the completion of UPS’s proposed 5.16 billion-euro ($6.58 billion) purchase of TNT, the Hoofddorp, Netherlands-based the package-delivery company said today in a statement. Financial terms were not disclosed. </p><p></p><p>UPS’s merger agreement requires it to make “best efforts” to secure regulatory clearance and offer “reasonably satisfactory” concessions. It will pay a breakup fee to TNT of 200 million euros if it pulls out.</p></blockquote><p></p>
[QUOTE="cheryl, post: 1056515, member: 1"] [URL="http://www.bloomberg.com/news/2012-11-16/tnt-express-to-sell-airline-operations-to-secure-ups-deal.html"][B] TNT Express to Sell Airline Operations to Secure UPS Deal - Bloomberg[/B][/URL] TNT Express NV (TNTE) agreed to sell its airline operations to ASL Aviation Group Ltd. in an effort to safeguard a deal to combine with United Parcel Service Inc. (UPS) The transaction is conditional on the completion of UPS’s proposed 5.16 billion-euro ($6.58 billion) purchase of TNT, the Hoofddorp, Netherlands-based the package-delivery company said today in a statement. Financial terms were not disclosed. UPS’s merger agreement requires it to make “best efforts” to secure regulatory clearance and offer “reasonably satisfactory” concessions. It will pay a breakup fee to TNT of 200 million euros if it pulls out. [/QUOTE]
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TNT to sell airline operations to help secure $6.58B UPS deal
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