TNT Express N.V has announces that it has received an unsolicited non-binding and conditional proposal from United Parcel Service, Inc. (UPS) for the acquisition of the whole of the issued capital of TNT Express at an indicative price of € 9 per ordinary sharefor which the boards have rejected the proposal, the TNT Express release said.
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The TNT Express N.V. Supervisory and Executive Boards have carefully considered the indicative proposal and explored its rationale, merits and risks for shareholders and all other stakeholders, the release added.
However, TNT has informed UPS about the decision but continue to be in discussions, TNT said in a press release.
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