UPS shrinks buyback plan to use cash for TNT offer - Yahoo
The new plan from UPS will cut $2 billion from what UPS needs to borrow for the deal. Its original plan to borrow $3.8 billion for the deal had prompted ratings agencies to put UPS on watch for a possible downgrade.
UPS now plans to use $5 billion in cash plus $1.8 billion in debt for the $6.8 billion deal. Buying TNT will make UPS the biggest shipper in Europe, and it's the biggest acquisition UPS has ever made.