UPS extends offer period for TNT

NEW YORK (AP) ? United Parcel Service Inc. is extending the offer period for its $6.77 billion acquisition of Dutch delivery company TNT Express.

Since the two companies are similar and share some common business, European regulators said last month they need to look at the deal more closely.

UPS' offer period will now extend to Nov. 9. The previous deadline was Aug. 31.

Atlanta-based United Parcel Service Inc. said Wednesday that it and TNT still expect the acquisition to close in the fourth quarter.

UPS is the world's largest delivery company. TNT is the second-biggest express mail company in Europe behind DHL. The deal was first announced in March.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-08-22-US-UPS-TNT-Offer-Period-Extension/id-ea8d4fff550045d789ce14292d46abae

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