Geber, Blackstone give up plans to take over TNT
German private equity investor Cornelius Geber and US private equity group Blackstone have abandoned plans to take over TNT NV, the Frankfurter Allgemeine Zeitung reported, citing unnamed sources.
They decided to drop them after news of the takeover plans caused TNT’s share price to surge 40 pct to around 28 eur, the paper said.
It added Blackstone halted the bid after information about the plans reached the public prematurely and as hedge funds became involved.
