Market Overview

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

Related UPS
United Parcel Service, Inc. Shares Follow FedEx Corporation Shares Higher On FedEx Earnings Beat
Fast Money Halftime Report Final Trade From September 16
Market Watch: UPS Data Breach, Car Recalls and Welfare Stats (Fox Business)
Related TNTEY
TNT Express Q3 Profit Drops 25%
TNT Express Posts Upbeat Q1 Profit

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)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters