UPS Near Purchase of TNT: Report

NEW YORK ( TheStreet) -- United Parcel Service ( UPS) is near a 5.2 billion euro ($6.8 billion) deal to purchase Dutch package shipper TNT Express NV, according to a published media report.

The report, published on the Wall Street Journal's Web site, cited people familiar with the transaction.

Atlanta-based UPS plans to pay 9.50 euros a share for the TNT Express, an increase from 9 euros in a previous offer that TNT had rejected, the report said, citing the sources.

Both companies have informally agreed on the deal and no substantial issues remain to be negotiated, the report said, citing one of the sources.

The deal would make UPS the world's largest international package shipper by revenue, the report said.

Shares of UPS closed Friday down 53 cents at $78.41.

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This article was written by a staff member of TheStreet.