• Most Popular
  • Most Shared

FedEx in early talks to buy TNT in Netherlands-FT

Fri Jul 11, 2008 10:47pm EDT

Stocks

   

NEW YORK, July 11 (Reuters) - FedEx Corp (FDX.N) is in preliminary talks to acquire TNT NV (TNT.AS), its smaller Dutch rival, to add to its European parcel delivery service, the Financial Times reported on Friday.

Stocks  |  Mergers & Acquisitions  |  Global Markets

The newspaper reported that both United Parcel Service (UPS.N) and FedEx have "coveted" TNT's European parcel business.

It didn't name any price that FedEx would be willing to pay for TNT, which has a stock market value of around $11.7 billion or 7.4 billion euros. "We do not discuss corporate activities such as that," said Jim McCluskey, a FedEx spokesman.

(Reporting by Dane Hamilton; Editing by Kim Coghill)

(Reuters email: dane.hamilton@thomsonreuters.com. 646 223 6161)
Stocks
Mergers & Acquisitions
Global Markets


More from Reuters

Photo

New security restrictions could hurt airlines

NEW YORK (Reuters) - Tighter security measures at U.S. airports following an attempt to blow up a Detroit-bound jet could dampen enthusiasm for air travel, hurting the airline industry just as it seemed poised to recover from a period of bruising losses, some industry experts say.

» More Top News
A Delta Airbus 330 airliner sits on a runway at Detroit Metropolitan Airport in Romulus, Michigan in this video grab made December 25, 2009. Credit: REUTERS/WDIV TV/Handout

The battle in mid-air

The attraction of bombing airliners means the aviation industry has to be constantly vigilant in its fight against attackers.  Full Article 

U.S.
A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
Political Risk in 2010:

Don't say we didn't warn you

With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

Global Markets