UPS and TNT Express sign deal

ATLANTA, Georgia and HOOFDDORP, the Netherlands:

After a complex negotiation, TNT Express NV has agreed to be purchased by United Parcel Service Inc.

The deal, which is valued at $6.74 billion (€5.16 billion), will see UPS pay an all-cash offer for TNT Express shares.

According to a joint statement from both companies, the transaction will create a logistics company with more than $58.8 billion (€45 billion) in annual revenues and an enhanced, integrated global network.

The transaction is designed to strengthen UPS’s commitment to Europe, by expanding its express capabilities there and by integrating TNT Express’ intra-European road freight network.

For TNT Express customers, the take-over will provide better access to the North American market and UPS’s global freight forwarding and distribution services.