UPS looking at TNT takeover: Euro reports
ATLANTA, Ga. — United Parcel Service would become the largest road transporter in the world if it acquires global rival, TNT of the Netherlands.
According to a report in London’s Telegraph, UPS could launch a $15.2 billion bid for Europe’s second-largest parcel delivery and logistics company.
However, UPS President of International Business Dan Brutto quickly shot down the reports, telling Reuters that buying TNT would devalue his company’s own shares. He also said that UPS was more interested in acquiring a major Chinese logistics firm, instead.
Though, the Telegraph report indicates that UPS has been seeking to boost its operations in Europe for some time and the carrier has already "informally approached" TNT about a takeover.
Also, according to the Telegraph, UPS competitor at home, FedEx, hasn’t ruled out bidding for TNT, which operates in more than 200 countries.
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