TNT Express, Europe’s second-largest express-delivery service, is facing pressure to seal an improved sale agreement with United Parcel Service as investor confidence in its ability to improve margins flags.
TNT Express, which said Friday it rejected a 4.89 billion-euro $6.43 billion takeover offer from UPS, is seeking a bid higher than the current 9 euros per share, according to a person familiar with the negotiations who asked not to be identified because the talks are private. The bid represented a 42 percent premium on the stock’s Friday closing price in Amsterdam.
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