UPS to buy TNT Express for $6.8 billion

| 3/20/2012

United Parcel Service, Inc. announced its plan to expand its global reach by buying TNT Express, the second-largest delivery company in Europe, for approximately $6.8 billion.

“Together, UPS and TNT Express will offer customers an enhanced, integrated global network that will provide greatly enhanced service to customers throughout the world,” according to the joint press release issued by UPS and TNT Express on March 19.

UPS, headquartered in Atlanta, is already the world’s largest shipper with nearly 100,000 vehicles ranging from vans to tractor-trailers.

“With this combination, both UPS and TNT Express will significantly enhance their ability to serve our combined customers’ complex global logistics need,” said UPS CEO Scott Davis in the statement.