Reuters: Mergers News: TNT Express swings to profit ahead of UPS acquisition

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

TNT Express swings to profit ahead of UPS acquisition May 2nd 2012, 06:19 AMSTERDAM | Wed May 2, 2012 2:19am EDT AMSTERDAM May 2 (Reuters) - Dutch parcel delivery company TNT Express said Wednesday the proposed acquisition by United Parcel Service (UPS) was proceeding on schedule as it swung to an operating profit in the first quarter of 2012. TNT Express said in a statement its operating income rose to 37 million euros in the three months period through March from a loss of 79 million euros a year ago, while revenue increase 1.3 percent to 1.82 billion euros. TNT Express in March accepted an offer to be acquired UPS, the global mail service leader, for 5.2 billion euros.

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