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UPS extends time to conclude TNT buy

Legal

Wednesday, August 22, 2012

UPS on Wednesday said it would give more time to finalize its $6.28 billion deal to acquire rival TNT Express because European Union competition authorities have not finished their review of antitrust issues. The Atlanta-based parcel carrier will extend its cash offer until Nov. 9. The original deadline was Aug. 31. Formal documents to extend the closing will be filed with regulators on Sept. 5. TNT shareholders who already have tendered their shares may withdraw...

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