UPS loses $2 billion euro claim for EU veto on TNT bid


I started this.
Staff member
UPS loses $2 billion euro claim for EU veto on TNT bid - Reuters

The world's No. 1 logistics company, United Parcel Service Inc (UPS.N), on Wednesday lost its court fight for a record 1.74-billion euro ($2 billion) compensation claim from EU antitrust regulators for blocking its 2013 bid for Dutch rival TNT.

A win for UPS could encourage other companies to take similar action though EU merger vetoes are rare, with only 10 deals blocked by the EU in the past decade.

The European Commission had stopped UPS' planned 5.2-billion-euro acquisition of TNT because it had not offered enough remedies to allay concerns that the deal would hurt consumers.

UPS subsequently challenged the decision in court, won and then sued the EU executive for compensation for the harm allegedly suffered as a result of the EU veto.


In the Spirit of Honore' Daumier
Yeah...I knew they should have come here to BC for a better strategy!!!

They (Board of Directors) were the ones who signed on the deal, pretty sure they read the fine print...the EU simply took them to the cleaners...I believe we lost an high level executive on their board over the failed deal (early retirement), somebody had to pay...there will always be the low man on the totem pole and/or a scapegoat.