UPS Said to Weigh Network Sharing to Rescue TNT Purchase - Bloomberg
United Parcel Service Inc. (UPS) may give rivals access to its transportation network and delivery aircraft to salvage a 5.16 billion-euro ($6.67 billion) purchase of TNT Express NV (TNTE) amid European Union antitrust concerns, three people familiar with the plans said.
UPS is considering guarantees allowing others to ship goods at fixed prices using its delivery network of trucks and planes, as well as asset sales, as part of remedies it may present to regulators by tomorrow, said the people, who asked not to be identified because the talks are private. TNT dropped as much as 9.6 percent.
Since announcing the purchase on March 19, UPS has twice pushed back the target date to complete the biggest acquisition in its 105- year history as the regulatory review continues.
United Parcel Service Inc. (UPS) may give rivals access to its transportation network and delivery aircraft to salvage a 5.16 billion-euro ($6.67 billion) purchase of TNT Express NV (TNTE) amid European Union antitrust concerns, three people familiar with the plans said.
UPS is considering guarantees allowing others to ship goods at fixed prices using its delivery network of trucks and planes, as well as asset sales, as part of remedies it may present to regulators by tomorrow, said the people, who asked not to be identified because the talks are private. TNT dropped as much as 9.6 percent.
Since announcing the purchase on March 19, UPS has twice pushed back the target date to complete the biggest acquisition in its 105- year history as the regulatory review continues.
