United Parcel Service is expanding its global reach by agreeing to acquire rival delivery service company TNT Express in a $6.8 billion deal.
Atlanta-based UPS (UPS, Fortune 500) will pay about $12.50 in cash per share for the Dutch company, an increase of more than 50% since negotiations were first announced on Feb. 16, the companies said Monday.
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UPS said the merger will expand its presence not only in Europe, but in Asia and Latin America. The company said that about 26% of its revenue currently come from outside the United States, and it expects that figure to grow to 36% following the merger.
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