UPS has proposed a €5.16 billion ($6.58 billion) takeover of TNT. In a statement on Friday, TNT said the sale of its airline business is conditional and dependent on the completion of the deal with UPS.

UPS has pushed back the completion date of the deal twice since it was announced on March 19, citing the regulatory review process.

If TNT goes ahead with the sale of its airline business, it will sell TNT Airways and Pan Air Lineas Areas SA in completion to ASL.

As part of its merger agreement, UPS has agreed to pay a fee of €200 million to TNT if it backs out of the deal.


The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.

-- Written by Brittany Umar.
Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.

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