UPS to buy TNT Express

March 19, 2012: United Parcel Service Inc. said Monday it has agreed to buy TNT Express NV for $6.77 billion (€5.16 billion) in a deal supported by TNT's boards.

UPS's cash offer of €9.5 ($12.51) per share for TNT — Europe's second-largest express delivery company behind DHL — comes a month after TNT management turned down a €9 per share offer. The companies remained in talks, assisted by a strengthening dollar.

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