Quarterly report pursuant to Section 13 or 15(d)

BUSINESS ACQUISITIONS

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BUSINESS ACQUISITIONS
 3 Months Ended
Mar. 31, 2012
Business Combinations [Abstract]  
BUSINESS ACQUISITIONS
BUSINESS ACQUISITIONS
In February 2012, we acquired Kiala S.A. (“Kiala”), a Belgium-based developer of a platform that enables e-commerce retailers to offer their shoppers the option of having goods delivered to a convenient retail location. Kiala currently operates in Belgium, France, Luxembourg, the Netherlands and Spain. The acquisition will broaden our service portfolio for business-to-consumer deliveries. Kiala is not material to our consolidated financial position or results of operations.
On March 19, 2012 we announced an agreement to purchase TNT Express N.V. ("TNT Express") for €9.50 per ordinary share. The offer values the issued and outstanding share capital of TNT Express at €5.16 billion ($6.77 billion). We anticipate the acquisition will close during the third quarter of 2012 and intend to finance the offer by utilizing a combination of approximately $5.0 billion of available cash and approximately $1.8 billion in new debt. The transaction will create a global leader in the logistics industry and an enhanced, integrated global network. The combination will expand our express capabilities and logistics solutions in Europe, while deepening our existing position in fast-growing regions such as Asia-Pacific and Latin America.