The world leader in express delivery becomes even more powerful. The American giant UPS has closed the deal to buy Dutch competitor TNT for 5,15 billion euros (9,5 euros per share), i.e. 53,7% more than the stock market value of the European company last week. All that is needed to conclude the operation is the go-ahead from the national authorities. It is expected that from the merger will be born a giant with over 45 billion in total annual revenues.
Ups and Tnt estimate synergies of 400-500 million euros within four years. The American company closed 2011 with a turnover of 53,1 billion dollars and a net profit of 3,8 billion, up 14%. Tnt ended last year with a loss of 270 million euros.
