UPS extends offer period for TNT takeover

Deal will close in Q4 of 2012

€5.16 bn deal August 31 integrated global network logistics industry November 9 service leader TNT Express transportation technology UPS

UPS has extended the offer period for its $6.3 billion (€5.16 billion) acquisition of TNT Express from August 31 till November 9. The deal is still expected to close in the fourth quarter of 2012, according to a joint press release.

Under the terms of the offer, UPS will acquire TNT Express to create a service leader in the logistics industry and an enhanced, integrated global network. The complementary strengths of both organizations will create a customer-focused global platform that will be a leader in transportation technology and customer service.