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UPS agrees to purchase TNT for $6.8 billion

Date: Monday, March 19, 2012, 6:30am EDT - Last Modified: Monday, March 19, 2012, 6:49am EDT

United Parcel Service Inc. United Parcel Service Inc.Latest from The Business JournalsFollow this company agreed to buy TNT Express after raising its bid from $6.4 billion to $6.8 billion, Bloomberg reports.

For UPS (NYSE: UPS), acquiring Dutch delivery giant TNT will mean achieving roughly equal footing in Europe with Deutsche Post AG’s DHL, the region’s biggest delivery operator.

As of Friday, UPS was still in acquisition talks with TNT.

The Atlanta-based package shipping giant has about 50 Central Florida locations.

SOURCE: Orlando Business Journal

Royal Bank of Canada Buys Out RBC Dexia

By MARK SCOTT

LONDON — Royal Bank of Canada agreed on Tuesday to buy the 50 percent stake in RBC Dexia Investor Services it did not already own for 837.5 million euros, or $1.1 billion.

The deal is part of the breakup of the French-Belgian bank Dexia, which received a combined 6 billion euro bailout from the French and Belgian governments last year.

The Canadian bank said the deal for RBC Dexia, which provides back-office support for financial services companies, would help increase its global reach. The firm had been a 50-50 joint venture between Royal Bank of Canada and Dexia.

“The transaction announced today has significant strategic value to us, not only as a stand-alone business but also in its complementary capabilities to RBC,” Royal Bank of Canada’s chief executive, Gordon M. Nixon, said in a statement. “It is a strong business that generates stable revenue in an attractive sector that is well positioned for long-term growth. It has a premier list of institutional investor clients globally and fits well with our diversification strategy.”

RBC Dexia ranks among the world’s top 10 global custodians, with 2.1 trillion euros in assets under administration as of Dec. 31, 2011, according to a company statement.

The deal...