Market Overview

UPS Announces EC is Working on Decision to Prohibit Acquisition of TNT Express

Related UPS
Early Global News: Clinton's $275 Billion Infrastructure Plan, US Proximity Mobile Payment Transactions to Reach $8.71 Billion And More
Is Amazon Running A Secret Shipping Business With Major Disruptive Potential?
The Online Retail Revolution Part I: Growth Delivered To Your Door (Seeking Alpha)
Related TNTEY
Benzinga's M&A Chatter for Tuesday October 20, 2015
FedEx, TNT Express have been informed by EC that No Statement of Objections will be Issued

United Parcel Service (NYSE: UPS) announced today the European
Commission (EC) has informed UPS and TNT Express that it is working on a
decision to prohibit the proposed acquisition of TNT Express (NASDAQ: TNTEY).

UPS submitted an initial remedies proposal on Nov. 29, 2012 and
subsequently revised the proposal twice. UPS began the competitive
review process with the EC in March 2012.

Scott Davis, UPS Chairman and CEO said, “We are extremely disappointed
with the EC's position. We proposed significant and tangible remedies
designed to address the EC's concerns with the transaction. The combined
company would have been transformative for the logistics industry,
bringing meaningful benefits to consumers and

See full press release

Posted-In: News Guidance Management M&A Global


Related Articles (UPS + TNTEY)

Get Benzinga's Newsletters