ATLANTA -- United Parcel Service Inc. said Friday it is bidding to buy Dutch delivery giant TNT Express.
The deal would be valued at about 4.9 billion euros, or $6.4 billion.
TNT Express is one of the world's largest express delivery companies. It moves 4.7 million parcels, documents, and pieces of freight every week to more than 200 countries and operates air and road transportation networks in Europe, China, South America, the Asia-Pacific and the Middle East. TNT Express employs 83,000 people and runs a fleet of about 30,000 road vehicles and 50 aircraft. It has more than 2,600 depots and sorting centers.
UPS said that on Feb. 11, it offered to buy TNT for nine euros per share. "Discussion between the parties concerning this proposal are ongoing," UPS said today.
(Atlanta Business Chronicle)