Posted on August 11, 2008 at 10:58 AM
Filed under: Acquisitions | Corporate Strategy | Deal International | Growth Strategy
Tagged: acquisitions , Dan Brutto , International growth , M&A , TNT NV , United Parcel Service , UPS

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There is no packaged deal for TNT NV yet. United Parcel Service Inc. may be looking to acquire abroad, but probably not in Europe. UPS denied speculation that it would bid $15 billion for its Dutch rival, claiming the deal would devalue its own shares.

Due to an increase in the cost for transportation, TNT -- Europe's second-largest package service -- has been ailing. Shares have risen over the past month due to breakup talks by UPS and on rumors of interest from FedEx Corp.

Like many U.S. businesses, UPS is focused on international growth due to the economy. Dan Brutto, president of UPS' international business, said the company expects 40% of revenue to come from international sources by 2010. With all the excitement going and market opportunity in China amid the Olympics, Brutto announced that the company is looking to create one or two $180 million transport hubs in China by the end of the year and could acquire a Chinese firm in the future. - Maria Woehr

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