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UPS going after TNT express?
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<blockquote data-quote="moreluck" data-source="post: 941421" data-attributes="member: 1246"><p> <table style='width: 100%'><tr><td></td><td> <br /> </td><td> <br /> </td><td> <br /> </td></tr></table><p><span style="color: #000000"><span style="font-family: 'Calibri'">UPDATE 1-TNT Express rejects 4.9 bln euros UPS bid</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">February 17, 2012 12:12 ET</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">Thomson Reuters News United Parcel Service Inc</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">UPS</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">© Copyright 2012, Thomson Reuters</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">Page 1</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">(Adds detail of shareholder dispute)</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">AMSTERDAM, Feb 17 (Reuters) - Dutch delivery firm TNT Express said on Friday its board of directors has rejected an</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">unsolicited takeover offer from U.S-based peer UPS worth an estimated 4.9 billion euros, but it said discussions are</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">continuing.</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">UPS made an offer of 9 euros per share for all of TNT's issued capital, a premium of 42 percent over Friday's closing price of</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">6.343 euro for TNT shares.</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">The bid comes as activist shareholders in TNT have stepped up calls for the company to shake up its board and increase</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">shareholder value.</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">TNT this month agreed to appoint several new members to its supervisory board, including two candidates proposed by</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">American investor Jana Partners, which together with Canada's Alberta Investment Management Corporation (AIMCO)</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'">owns 5 percent. (Reporting by Roberta B. Cowan and Anthony Deutsch)</span></span></p><p><span style="color: #000000"><span style="font-family: 'Calibri'"></span></span></p></blockquote><p></p>
[QUOTE="moreluck, post: 941421, member: 1246"] [TABLE] [TR] [TD][/TD] [TD] [/TD] [TD="width: 26"] [/TD] [TD] [/TD] [/TR] [/TABLE] [COLOR=#000000][FONT=Calibri]UPDATE 1-TNT Express rejects 4.9 bln euros UPS bid February 17, 2012 12:12 ET Thomson Reuters News United Parcel Service Inc UPS © Copyright 2012, Thomson Reuters Page 1 (Adds detail of shareholder dispute) AMSTERDAM, Feb 17 (Reuters) - Dutch delivery firm TNT Express said on Friday its board of directors has rejected an unsolicited takeover offer from U.S-based peer UPS worth an estimated 4.9 billion euros, but it said discussions are continuing. UPS made an offer of 9 euros per share for all of TNT's issued capital, a premium of 42 percent over Friday's closing price of 6.343 euro for TNT shares. The bid comes as activist shareholders in TNT have stepped up calls for the company to shake up its board and increase shareholder value. TNT this month agreed to appoint several new members to its supervisory board, including two candidates proposed by American investor Jana Partners, which together with Canada's Alberta Investment Management Corporation (AIMCO) owns 5 percent. (Reporting by Roberta B. Cowan and Anthony Deutsch) [/FONT][/COLOR] [/QUOTE]
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