UPS Extends ‘Constructive’ Takeover Discussions With TNT - Bloomberg
United Parcel Service Inc. (UPS) said it extended takeover talks with TNT Express NV (TNTE), Europe’s second- largest high-speed parcel delivery service.
A bid from UPS -- already the world’s largest package- delivery company -- or main competitor FedEx Corp. (FDX) had been anticipated for years as the U.S. companies studied European expansion. That talk gained momentum after the spinoff.
UPS controlled 7.7 percent of the European express-parcels market in 2010, compared with FedEx’s 3.3 percent and TNT’s 9.6 percent, according to Transport Intelligence. Deutsche Post AG (DPW)’s DHL unit is the leader in the region, with a 17.6 percent share.
United Parcel Service Inc. (UPS) said it extended takeover talks with TNT Express NV (TNTE), Europe’s second- largest high-speed parcel delivery service.
A bid from UPS -- already the world’s largest package- delivery company -- or main competitor FedEx Corp. (FDX) had been anticipated for years as the U.S. companies studied European expansion. That talk gained momentum after the spinoff.
UPS controlled 7.7 percent of the European express-parcels market in 2010, compared with FedEx’s 3.3 percent and TNT’s 9.6 percent, according to Transport Intelligence. Deutsche Post AG (DPW)’s DHL unit is the leader in the region, with a 17.6 percent share.
