UPS Makes Concessions in TNT Deal, Dover Buys Anthony International: Merger and Acquisitions Recap
Seeking approval of its proposed acquisition of TNT Express (TNTEY.PK), the world’s largest package delivery firm United Parcel Service (NYSE:UPS) has offered concessions such as allowing competitors access to air networks. The price of the merger is estimated at €5.16 billion, or $6.7 billion. The two principle rivals for next-day express deliveries in Europe are Deutsche Post (DPSGY.PK) and TNT. The original deadline for the end of the EU inquiry has been moved to February 5th.
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Dover Corporation (NYSE:DOV) purchases Anthony International, a top maker of specialty glass, freezer doors, commercial glass refrigerator and lighting systems, and display equipment, at a price of $602.5 million. The latter is based in Sylmar, California and will be integrated into the Refrigeration and Industrial platform of Dover’s Engineered Systems segment.
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