UPS pays €5.2bn for TNT Express UPS, the world's largest package delivery company, has long looked at TNT as a way to help it expand in Europe, especially Britain, France and Germany as well as in the Netherlands. The offer ends years of speculation about the future of the Dutch delivery company, which was split from the Dutch mail company PostNL and listed last year. With falling profit and a poor outlook for 2012, TNT's management had come under intense pressure from activist shareholders, including Jana Partners and Alberta Investment Management Corp. On Friday, UPS said it was still in "constructive" talks with TNT, four weeks after the Dutch firm rejected UPS's €9 a share bid, valuing TNT at €4.9bn.