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The Latest UPS Headlines
EU court paves way for $2 billion UPS claim as annuls TNT bid veto
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<blockquote data-quote="cheryl" data-source="post: 3909612" data-attributes="member: 1"><p><a href="https://www.reuters.com/article/us-eu-court-ups/eu-court-paves-way-for-2-billion-ups-claim-as-annuls-tnt-bid-veto-idUSKCN1PA13R?il=0" target="_blank"><strong>EU court paves way for $2 billion UPS claim as annuls TNT bid veto - Reuters</strong></a></p><p></p><p>Europe’s top court opened the way to a $2 billion damages claim by U.S. delivery company UPS (<a href="https://www.reuters.com/finance/stocks/overview?symbol=UPS.N" target="_blank">UPS.N</a>) on Wednesday by annulling a 2013 decision to stop it buying Dutch firm TNT Express.</p><p></p><p>The European Court of Justice said the ruling followed a procedural error by the European Commission in its veto, which paved the way for FedEx Corp (<a href="https://www.reuters.com/finance/stocks/overview?symbol=FDX.N" target="_blank">FDX.N</a>) to acquire TNT Express for 4.4 billion euros in 2016, a deal it approved.</p><p></p><p>UPS, which has said it is seeking 1.74 billion euros ($1.98 billion) from the European Commission, said it was pleased the court agreed that the company had been given a fair hearing.</p></blockquote><p></p>
[QUOTE="cheryl, post: 3909612, member: 1"] [URL='https://www.reuters.com/article/us-eu-court-ups/eu-court-paves-way-for-2-billion-ups-claim-as-annuls-tnt-bid-veto-idUSKCN1PA13R?il=0'][B]EU court paves way for $2 billion UPS claim as annuls TNT bid veto - Reuters[/B][/URL] Europe’s top court opened the way to a $2 billion damages claim by U.S. delivery company UPS ([URL='https://www.reuters.com/finance/stocks/overview?symbol=UPS.N']UPS.N[/URL]) on Wednesday by annulling a 2013 decision to stop it buying Dutch firm TNT Express. The European Court of Justice said the ruling followed a procedural error by the European Commission in its veto, which paved the way for FedEx Corp ([URL='https://www.reuters.com/finance/stocks/overview?symbol=FDX.N']FDX.N[/URL]) to acquire TNT Express for 4.4 billion euros in 2016, a deal it approved. UPS, which has said it is seeking 1.74 billion euros ($1.98 billion) from the European Commission, said it was pleased the court agreed that the company had been given a fair hearing. [/QUOTE]
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EU court paves way for $2 billion UPS claim as annuls TNT bid veto
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