Traverse City Record-Eagle

Archive: Tuesday

March 20, 2012

UPS buys Dutch firm in $6.7B deal

AMSTERDAM — United Parcel Service Inc. said Monday it will buy Netherlands-based TNT Express NV for $6.77 billion in a cash deal that will create a company with annual sales of $60 billion and 475,000 employees worldwide.

Atlanta-based UPS is the world's largest delivery company. TNT, headquartered in Hoofddorp, Netherlands, is the second-biggest express mail company in Europe behind DHL, owned by Germany's Deutsche Post.

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