TNT rises to five-month high on speculation about takeover bid
TNT NV rose to its highest in five months in Amsterdam trading on speculation of a takeover offer.
TNT rose as much as 2.48 euros, or 10 percent to 26.41 euros, the highest since Feb. 27. The stock was up 3.8 percent at 11:26 a.m. local time.
“There are rumors about a takeover bid” of 30.25 euros per share being made “soon,” said Rik Zwaneveld, a trader at AFS Brokers BV in Amsterdam, adding that possible interested parties weren’t mentioned.
TNT rose 26 percent on July 14 on a Financial Times report that FedEx Corp., the second-largest U.S. package-shipping company, was in preliminary talks to buy TNT. The stock tumbled 16 percent on July 24 after the Wall Street Journal said FedEx won’t make an offer.
Pieter Schaffels, spokesman for Hoofddorp, Netherlands- based TNT, declined to comment.
TNT NV rose to its highest in five months in Amsterdam trading on speculation of a takeover offer.
TNT rose as much as 2.48 euros, or 10 percent to 26.41 euros, the highest since Feb. 27. The stock was up 3.8 percent at 11:26 a.m. local time.
“There are rumors about a takeover bid” of 30.25 euros per share being made “soon,” said Rik Zwaneveld, a trader at AFS Brokers BV in Amsterdam, adding that possible interested parties weren’t mentioned.
TNT rose 26 percent on July 14 on a Financial Times report that FedEx Corp., the second-largest U.S. package-shipping company, was in preliminary talks to buy TNT. The stock tumbled 16 percent on July 24 after the Wall Street Journal said FedEx won’t make an offer.
Pieter Schaffels, spokesman for Hoofddorp, Netherlands- based TNT, declined to comment.