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Moody's could lift TNT Express
Moody's Investors Service said it placed the Baa2 negative long-term issuer rating of TNT Express NV on review for upgrade.
Moody's also placed the Prime-2 short-term ratings of both TNT and TNT Finance BV on review for upgrade.
Moody's said this follows TNT's announcement that it reached an agreement for a cash offer on all of its equity with United Parcel Service, Inc. for €9.50 per share.
The acquisition, which is subject to regulatory review and other closing conditions, is expected to close during the third quarter of this year, the agency said.
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