United Parcel Service Inc. (UPS) raised its offer for TNT Express NV (TNTE) by 5.6 percent to 5.16 billion euros ($6.8 billion) to secure the biggest deal in the U.S. company’s 105-year history and challenge Deutsche Post AG.
UPS will pay 9.50 euros a share in cash for the region’s second-largest express delivery company, up from a bid last month of 9 euros per share and 54 percent higher than the closing price Feb. 16, the day before the talks were made public, the companies said in a joint statement today.
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