Market Overview

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

Share:
Related UPS
12 Stocks You Should Be Watching Today
Earnings Scheduled For July 29, 2016
A Mild Quarter Has Significant Ramifications For The Future (Seeking Alpha)
Related TNTEY
FedEx Offers Little Insight Into TNT Express Integration
FedEx Mixed Bag Of Results, Outlook May Leave Investors 'Somewhat Confused'

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)

View Comments and Join the Discussion!