UPS Says TNT Deal Won’t Close Until 2013 After Extended EU Probe

Discussion in 'The Latest UPS Headlines' started by cheryl, Sep 5, 2012.

  1. cheryl

    cheryl I started this. Staff Member

    UPS Says TNT Deal Won’t Close Until 2013 After Extended EU Probe - Bloomberg

    United Parcel Service Inc. (UPS) said it doesn’t expect to close the 5.16 billion-euro ($6.5 billion) purchase of TNT Express NV (TNTE) until the first quarter after the European Union extended its review of the deal.

    UPS, which had anticipated completion this year, also pushed back the deadline for TNT shareholders to respond from Aug. 31 to Nov. 9 because antitrust clearance won’t be received by the original deadline, the Atlanta-based company said today.