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Wednesday, April 7, 2010 as of 11:14 AM ET

Scott Davis

Scott Davis (tennis)

Scott Davis (born 27 August 1962, in Santa Monica, California) is a former top-ranking professional tennis player.

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UPS To Use More Cash On TNT Buy, Add $5 Billion TO Stock Buyback

United Parcel Service Inc.

(UPS) outlined plans to use a higher percentage of cash to finance its purchase of TNT Express N.V. (TNTE.AE, TNTEY) and received authorization to buy back an additional $5 billion in stock.In March, the shipping giant reached an agreement to acquire TNT in a deal valuing the Dutch package shipper at around EUR5.16 billion. TNT Express is the smallest of the big four global package shippers, and while it has struggled somewhat in recent months, the merger would give UPS a market-leading position in Europe to round out its big domestic U.S. presence and expanding Asian business.UPS expects to use about $5 billion of available cash and issue about $1.8 billion in new debt to finance the acquisition, a $2 billion increase in cash from its prior guidance. The company said it would determine maturity details and a timetable for the new issuance at a later date.The acquisition, which must be reviewed by European Union regulatory authorities, is expected to close in...

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  1. UPS Executives See 'More Optimistic Tone' in US Economy

    United Parcel Service Inc. (UPS) executives Tuesday forecast slower global economic growth in 2012 compared with 2011 but offered a relatively upbeat U.S. outlook, s...

  2. UPS Beats Street in 4Q, Hikes '12 Outlook

    Shipping giant UPS (NYSE:UPS) revealed a 29% slump in fourth-quarter profits on Tuesday due to pension accounting changes, but the economic bellwether’s adjusted ear...

  3. 3M, U.S. manufacturers sound warning on Europe

    By Scott Malone and John D. StollDiversified manufacturer 3M Co <MMM.N> sounded a warning on Tuesday, telling Wall Street that Europe's brewing debt crisis and weake...

  4. UPS sees higher profits in slow-growing economy

    By Lynn AdlerUnited Parcel Service reported a higher quarterly profit as increased pricing, cost cutting and technology improvements helped compensate for domestic s...

  5. UPS Posts Higher 3Q Profit, Boosts Outlook

    United Parcel Service (NYSE:UPS) reported on Tuesday a stronger-than-expected increase in third-quarter profit on higher freight and domestic revenues, and the compa...

  6. UPS on track for record profit in 2011

    By Lynn AdlerLOUISVILLE, Kentucky (Reuters) - United Parcel Service <UPS.N> Chief Executive Scott Davis said the world's largest package delivery company is on track...

  7. UPS to Give Customers More Control Over Delivery Timing

    United Parcel Service is launching a new service in time for the peak holiday shipping season that gives residential consumers -- a growing portion of its business -...

  8. What Happens When Your Identity is Stolen?

    LifeLock CEO Todd Davis explains how the company is working with law enforcement to protect consumers against identity theft.

  9. UPS 2Q Net Grew 26% On Strong Growth In China, Europe

    --U.S. GDP estimate doesn't include "worst-case scenario"--International profit expected to be strong in second half--Pricing trends expected to hold(Updates with CF...

  10. Consumer markets hurt some industrial earnings

    By Nick Zieminski and Scott MaloneNEW YORK/BOSTON (Reuters) - Disappointed investors dumped shares of several large U.S. industrial and transport companies after the...

  11. UPS CEO: 2nd Half GDP Growth Could Be Anywhere From 1.5% to 3.5%

    United Parcel Service Inc. (UPS) executives said Tuesday they expect flat U.S. domestic package volume in the third quarter amid what they described as an "extremely...

  12. UPS Posts Higher 2Q Profit, Maintains Full-Year Outlook

    Shipping giant UPS (NYSE:UPS) revealed a 26% jump in second-quarter profits and modest revenue growth on Tuesday, but the world’s largest package delivery company’s ...

  1. UPS 1Q Earnings Up 6% On US Package, Supply Chain Gains

    United Parcel Services Inc.'s (UPS) first-quarter earnings rose 6% but came in short of Wall Street forecasts, as the package giant continued to wrestle with soft As...

  2. UPS Delivers 1Q Disappointment; Shares Retreat

    Shipping giant UPS (NYSE:UPS) weighed in on Thursday with a 6% rise in first-quarter profits thanks to a rise in U.S. demand, but the economic bellwether's earnings ...

  3. UPS Confident Of Swift EU Approval For TNT Deal

    United Parcel Service Inc. (UPS) Monday said it expects its planned EUR5.16 billion ($6.8 billion) acquisition of smaller Dutch package-shipping rival TNT Express NV...

  4. Delivered: UPS Inks $6.8B Buyout of Europe's TNT Express

    Capping off weeks of haggling, UPS (NYSE:UPS) and European rival TNT Express cemented an all-cash $6.8 billion takeover deal on Monday.The buyout will create the wor...

  5. UPS Bags TNT Express With EUR5.16 Billion All Cash Offer

    -UPS makes agreed EUR9.50 a share offer-Offer equivalent to 54% premium to share price before merger talks announced-TNT's largest shareholder has agreed to tender i...

  6. PRESS RELEASE: United Parcel Service And TNT -3-

    United Parcel Service and TNT Express to Create a Global Leader in the Logistics IndustryUnited Parcel Service and TNT Express Reach Agreement on Recommended All-Cas...

  7. UPS 4Q Net Down 29% On Pension Accounting Changes

    United Parcel Service Inc.'s (UPS) fourth-quarter earnings dropped 29% on a hefty charge stemming from a change in its pension accounting, but the shipping giant sai...

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