UPS Sues EU for $2.1 Billion After Botched Veto of TNT Bid

[cheryl]

UPS Sues EU for $2.1 Billion After Botched Veto of TNT Bid - Bloomberg

• EU veto of parcel delivery takeover was overturned by court
• UPS wants compensation plus interest and tax from regulators

UPS is asking the EU’s General Court to award it compensation plus interest and taxes it would pay on any windfall payment, according to details of the case published in an EU Court filing on Monday. The same court threw out a 2013 veto because merger watchdogs had failed to inform the Atlanta-based logistics giant when they changed an economic model used to weigh evidence.

 

[TearsInRain]

good the EU

 

[oldngray]

Good luck winning in an EU court.

 

[Brownslave688]

Good luck winning in an EU court.

Well ups got royally ed on that deal

 

[oldngray]

Well ups got royally ed on that deal

Didn't bribe the right people.

 

[specter208]

Well ups got royally ed on that deal

Can you please explain what happened in said deal and why UPS is now suing. Thanks!

 

[TearsInRain]

Can you please explain what happened in said deal and why UPS is now suing. Thanks!

we wanted to buy a company in europe to expand our ops there

EU said no because they claimed it would hurt competition; we sued to overturn

after we are denied and while the case is ongoing, they approve Fedex to buy the company instead

the courts come back and agree with UPS, that there was no reason to block the buy

EU says lol whoops better luck next time UPS

we say, you EU, pay up the money we lost or we’ll send over some thug teamsters from Jersey to break your legs

and here we are

 

[specter208]

we wanted to buy a company in europe to expand our ops there

EU said no because they claimed it would hurt competition; we sued to overturn

after we are denied and while the case is ongoing, they approve Fedex to buy the company instead

the courts come back and agree with UPS, that there was no reason to block the buy

EU says lol whoops better luck next time UPS

we say, you EU, pay up the money we lost or we’ll send over some thug teamsters from Jersey to break your legs

and here we are

Wow, what a ty deal. It's easy to hate the greatest. Hope we can get them back.

 

[Brownslave688]

Can you please explain what happened in said deal and why UPS is now suing. Thanks!

Is your Google broken?

 

[specter208]

Is your Google broken?

I have what I need.