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TNT in takeover talks with UPS

[ February 20, 2012   //   ]

TNT Express NV said it had rejected an unsolicited offer by UPS on 17 February but that it remained in talks with its US-based rival about a potential takeover. UPS offered €4.9 billion ($6.44 billion) for the Dutch-based logistics company but TNT’s supervisory and executive boards had rejected it. TNT was split from Dutch mail company PostNL NV in May 2011, which retained a 29.9% stake in the company but TNT’s performance since then has deteriorated.