UPS, the nation’s second-largest freight carrier, is being acquired by a company that has long had an interest in the business.
In a filing with the Securities and Exchange Commission, UPS said the deal includes $8.2 billion in cash and stock, and that it would use its newly acquired stock to purchase additional shares.
In its filing, the company said it would buy an additional 3,000 shares of UPS stock for $4.50 each.
That puts the total deal at $8,079.8 billion, including the purchase of additional stock, according to SEC filings.
It’s the largest acquisition deal of the year so far, eclipsing a $1.1 billion deal announced by Amazon in March.
The deal is the largest in UPS’s history.
In January, it bought an aircraft carrier.
In February, it also purchased an airplane, a tank, a helicopter and a boat.
The acquisition will make UPS the nations third-largest logistics company behind FedEx and UPS.
But the company says it will focus on its core services, including customer service.
It said it will create an additional 4,000 jobs, about half of which will be in the U.S., as well as improve the delivery of its products.
UPS said it is seeking financing to complete the deal.