UPS requests hearing to defend TNT deal report - CBS
United Parcel Service Inc. has requested a closed-door hearing before regulators next week to defend its planned takeover of Dutch rival TNT Express NV , according to two people familiar with the situation. The likely date for the oral hearing to be held in Brussels is Nov. 12, they said.
Oral hearings are a chance for firms to state their case for a merger before European Commission officials as well as before other competition regulators from the EU. Third-parties also have the opportunity to put forward their objections to the transaction.
United Parcel Service Inc. has requested a closed-door hearing before regulators next week to defend its planned takeover of Dutch rival TNT Express NV , according to two people familiar with the situation. The likely date for the oral hearing to be held in Brussels is Nov. 12, they said.
Oral hearings are a chance for firms to state their case for a merger before European Commission officials as well as before other competition regulators from the EU. Third-parties also have the opportunity to put forward their objections to the transaction.
