8/8, 3:54 AM (Source: TeleTrader)
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UPS closer to acquiring Italy's Bomi Group - report

United Parcel Service Inc. (UPS) is closer to reaching a deal to acquire Italy's Bomi Group, a Medtech and Pharma services provider, in an exchange worth hundreds of millions of dollars, reported the Wall Street Journal citing sources familiar with the matter.

According to the sources, the agreement could be closed on Monday, should there be no issues at the last minute. UPS, the worldwide-known transportation company, with a market value of around $172 billion, is now aiming to expand its activity in the distribution of medical products. Meanwhile, Bomi has become Italy's biggest logistics company in the healthcare industry.

Baha Breaking News (BBN) / AY