U.P.S. Offers Concessions to Secure TNT Express Takeover - New York Times
United Parcel Service said on Friday that it had submitted concessions to European antitrust authorities as it seeks regulatory approval for its proposed takeover of the Dutch shipping company TNT Express.
U.P.S. said the remedies would include the sale of certain business units and the granting of access to some of its airline network to rivals. The company, based in Atlanta, did not provide specifics on which of its operations would be sold.
European antitrust authorities had raised concerns that the proposed 5.2 billion euro, or $6.8 billion, takeover of TNT Express would significantly reduce competition in the Continent’s package delivery sector.
United Parcel Service said on Friday that it had submitted concessions to European antitrust authorities as it seeks regulatory approval for its proposed takeover of the Dutch shipping company TNT Express.
U.P.S. said the remedies would include the sale of certain business units and the granting of access to some of its airline network to rivals. The company, based in Atlanta, did not provide specifics on which of its operations would be sold.
European antitrust authorities had raised concerns that the proposed 5.2 billion euro, or $6.8 billion, takeover of TNT Express would significantly reduce competition in the Continent’s package delivery sector.
