UPS acquisition of TNT Express delayed

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UPS is planning to extend the offer period for its proposal to buy TNT Express beyond 31 August 2012, in accordance with its commitment as set out in the Offer Memorandum.

The European Commission’s review of UPS’s the proposed buy out is expected to move to a Phase II review, which can take up to 25 weeks to complete, because It is likely the offer condition relating to competition clearance will not be satisfied by the end of the initial offer period.

 The deal is now expected to be completed in the fourth quarter of 2012.

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