UPS Files Appeal in Brazil Over FedEx-TNT Express Deal Approval

Discussion in 'The Latest UPS Headlines' started by cheryl, Feb 18, 2016.

  1. cheryl

    cheryl I started this. Staff Member

    UPS Files Appeal in Brazil Over FedEx-TNT Express Deal Approval - Wall Street Journal

    Objection could potentially stall the nearly $5 billion acquisition

    The delivery giant filed the appeal after Brazil’s antitrust agency, also known as CADE, cleared the proposed transaction on Feb. 2.

    “The review process in Brazil contains an option to submit an application to the senior level of CADE to consider a more in-depth review of an initial finding,“ a UPS spokesman said Thursday. ”This option has been exercised as part of ensuring a fair and thorough investigation.”