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UPS wins court challenge against EU block to TNT bid
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<blockquote data-quote="cheryl" data-source="post: 2700766" data-attributes="member: 1"><p><a href="http://www.reuters.com/article/us-united-parcel-eu-court-idUSKBN16E17B" target="_blank"><strong>UPS wins court challenge against EU block to TNT bid - Reuters</strong></a></p><p></p><p>An EU court agreed with United Parcel Service (UPS.N) on Tuesday that the EU had wrongly blocked its takeover of Dutch peer TNT four years ago, potentially allowing the world's largest package delivery company to sue regulators for damages.</p><p></p><p>The European Commission rejected the 5.2 billion euro ($5.5 billion) deal in 2013, saying UPS had not offered sufficient concessions to allay concerns that the deal would hurt consumers. The deal would have expanded its presence in Asia and Latin America.</p><p></p><p>While TNT has since been bought by FedEx (FDX.N) in a 4.4 billion euro deal approved by the Commission last year, the ruling by Europe's second-highest court could affect other contentious deals.</p></blockquote><p></p>
[QUOTE="cheryl, post: 2700766, member: 1"] [URL='http://www.reuters.com/article/us-united-parcel-eu-court-idUSKBN16E17B'][B]UPS wins court challenge against EU block to TNT bid - Reuters[/B][/URL] An EU court agreed with United Parcel Service (UPS.N) on Tuesday that the EU had wrongly blocked its takeover of Dutch peer TNT four years ago, potentially allowing the world's largest package delivery company to sue regulators for damages. The European Commission rejected the 5.2 billion euro ($5.5 billion) deal in 2013, saying UPS had not offered sufficient concessions to allay concerns that the deal would hurt consumers. The deal would have expanded its presence in Asia and Latin America. While TNT has since been bought by FedEx (FDX.N) in a 4.4 billion euro deal approved by the Commission last year, the ruling by Europe's second-highest court could affect other contentious deals. [/QUOTE]
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UPS wins court challenge against EU block to TNT bid
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