TNT still seen as takeover target
TNT remains a potential takeover target despite its status as the top European express business and the second-biggest logistics provider in the world. However, the former Dutch mail monopoly is restructuring operations to focus on its TNT Mail and TNT Express units. The company has also sold its contract-delivery business TNT Logistics in order to strengthen its defense against any takeover. Chief executive Peter Bakker is planning to use part of the proceeds for a share buyback in the second half and for small acquisitions to boost TNT’s presence in Europe and Asia.
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