US DELIVERY giant United Parcel Service (UPS) will launch its 5.16 billion euro takeover bid of Dutch firm TNT Express on Friday, the two companies said in a statement.
"The offer period commences on 22 June 2012 at 9:00 hours Amsterdam time (0700 GMT) and ends on 31 August 2012 at 18:00 Amsterdam time (1600 GMT) unless extended," said the statement.
UPS announced in March that it would buy the Dutch firm in a deal that is expected to put UPS ahead of rivals DHL and FedEx as it would strengthen its position in Europe and globally.
Friday, June 22, 2012
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