UPS Makes a Play for China

    NEW YORK - APRIL 23:  A UPS delivery driver sits in his truck April 23, 2009 in New York City. United Parcel Service reported first-quarter earnings dropped sharply admist the global economic downturn and a dwindling shipping demand.  (Photo by Chris Hondros/Getty Images)

    Chris Hondros / Getty Images

    United Parcel Service said Monday it’s acquiring TNT Express, a Dutch shipping company, for $6.8 billion. The deal would increase the American company’s market share in Europe and open doors to the industry in China. About 36 percent of its combined revenues would come from outside the U.S. after the merger, compared with 26 percent right now. It’s the biggest acquisition in UPS’s 105-year history—it bought Overnite Corp. for $1.2 billion in 2005.

    Read it at The New York Times