March 19 2012 08:13 AM

Post&Parcel--TNT Express has agreed to a deal for its acquisition by UPS, after the US parcel delivery giant offered an increased offer valuing the company at about EUR 5.16bn ($6.77bn USD).

The companies issued a joint statement today confirming the agreement based on a value of EUR 9.50 per share, which remains subject to shareholder approval, the possibility of a significantly bigger offer from another rival, and consent by European competition authorities.
Read more!