Monday's stock market news from United Parcel Service Inc. (NYSE: UPS), U.S. Steel Corp. (NYSE: X),
and Glencore International Plc
helped drive gains in U.S. markets. The Dow moved up a slim 0.05% to close at 13,239.13; the S&P 500
climbed 0.4% to close at 1,409.75; and the Nasdaq
rose 0.75% to 3,078.32.
United Parcel Service Inc. (NYSE: UPS) biggest deal in company history: UPS
announced Monday a $6.77 billion deal to buy Netherlands-based delivery service TNT Express NV
to bolster global sales growth.
TNT is Europe's second-biggest express mail company. Its acquisition will double the UPS presence in Europe and give it about the same market share as the region's industry leader DHL. The deal also will boost UPS's international sales to 36% of its total from 26% currently - a significant leap towards the company's goal of 50%.
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