UPS appeals EU rejection of $6.7 billion TNT Express bid

Discussion in 'The Latest UPS Headlines' started by cheryl, Apr 8, 2013.

  1. cheryl

    cheryl I started this. Staff Member

    UPS appeals EU rejection of $6.7 billion TNT Express bid - Reuters

    United Parcel Services Inc has appealed the European Union regulator's decision to block its 5.16 billion euro ($6.7 billion) bid for Dutch competitor TNT Express NV, a UPS spokeswoman told Reuters on Sunday.

    U.S.-based UPS, the world's No. 1 package delivery company, dropped its bid to buy the Dutch firm on January 14, on the expectation of an EU veto of the merger.

    UPS has decided to challenge the EU's decision because it believes it was "factually and legally erroneous," Peggy Gardner, a UPS spokeswoman, wrote in an e-mail to Reuters.