Belgium’s Bpost and Dutch PostNL end takeover talks without deal
Bpost had made what was described as a "friendly offer" for all the shares in PostNL but the two companies said in a short statement that they had failed to reach a deal on the terms.
"PostNL confirms that it has conducted negotiations with bpost regarding a possible combination of the two companies through a friendly public offer by bpost on all shares of PostNL.
"These negotiations have, in the end, not led to agreement on the terms of such a transaction", postNL said.
The Belgian government owns a majority of the shares in Bpost. Trading in both firms was halted on Friday after Belgian paper De Tijd said Bpost made its first offer for PostNL in March and had raised the bid twice since then.
"Bpost is currently valued at around €4.8bn, or almost three times that of PostNL. ■