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UPS won't raise TNT bid price much: sources
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<blockquote data-quote="cheryl" data-source="post: 950406" data-attributes="member: 1"><p><a href="http://www.reuters.com/article/2012/03/12/us-tnt-ups-idUSBRE82B13R20120312" target="_blank"><strong>UPS won't raise TNT bid price much: sources - Reuters</strong></a></p><p></p><p>While a sweetener might facilitate board approval, the final price was likely to stay near 9 euros per share, the sources said. "TNT is now desperate to get that deal done," the first source said. TNT's shares jumped to an all-time high of 10.24 euros following UPS's approach, driven by hedge funds' hopes for a bidding war with U.S. rival Fedex (FDX.N), a long-touted suitor with a smaller presence in Europe. They fell back to as low as 9.2 euros after a source close to TNT told Reuters it was not expecting FedEX to bid.</p><p></p><p>Negotiations between the parties are now coming to an end and a deal is expected soon, the sources said.</p></blockquote><p></p>
[QUOTE="cheryl, post: 950406, member: 1"] [URL="http://www.reuters.com/article/2012/03/12/us-tnt-ups-idUSBRE82B13R20120312"][B]UPS won't raise TNT bid price much: sources - Reuters[/B][/URL] While a sweetener might facilitate board approval, the final price was likely to stay near 9 euros per share, the sources said. "TNT is now desperate to get that deal done," the first source said. TNT's shares jumped to an all-time high of 10.24 euros following UPS's approach, driven by hedge funds' hopes for a bidding war with U.S. rival Fedex (FDX.N), a long-touted suitor with a smaller presence in Europe. They fell back to as low as 9.2 euros after a source close to TNT told Reuters it was not expecting FedEX to bid. Negotiations between the parties are now coming to an end and a deal is expected soon, the sources said. [/QUOTE]
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