AMSTERDAM -- TNT Express NV (TNTA.AE) and UPS (UPS) jointly said Thursday that UPS launches a recommended cash offer of EUR9.50 per TNT Express share. PostNL NV (PNL.AE), holding 29.8% of TNT Express shares, will tender its shares. TNT Express will hold an extraordinary shareholders meeting on August 6.
- The Offer is a public cash offer for all the issued and outstanding ordinary shares and American
depositary shares of TNT Express at an offer price of EUR 9.50 per Share.
- The Executive Board and the Supervisory Board of TNT Express fully support and unanimously
recommend the Offer to the Shareholders for acceptance.
- Positive advice and opinion obtained from respectively the Central Works Council and the
European Works Council.
- PostNL N.V., currently holding approximately 29.8% of the Shares, has irrevocably undertaken to
tender its Shares under the Offer.
- The Offer Period commences on 22 June 2012 at 09.00 hours, Amsterdam time (03:00 hours, New
York time), and ends on 31 August 2012 at 18.00 hours, Amsterdam time (12:00 hours (noon), New
York time), unless extended.
- TNT Express will convene an Extraordinary General Meeting of Shareholders at 14:00 hours,
Amsterdam time (08:00 hours, New York time), on 6 August 2012, during which, amongst other
things, the Offer will be discussed.
- The Offer shall be subject to the fulfilment of the Offer Conditions as set out in the Offer
- Request for EU regulatory approval filed on 15 June 2012.
- By Amsterdam Bureau, Dow Jones Newswires; email@example.com