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European Commission blocks UPS-TNT merger

Europe

Monday, January 14, 2013

A case team from the European Commission has informed officials from UPS and TNT Express that it's rejecting a proposed $6.3 billion merger between the two integrators. UPS officials have told TNT Express that they see no path toward acquiring the company and will not pursue the transaction without EC approval. The merger, originally announced in March, was estimated to go through during the fourth quarter of 2012. UPS will now pay TNT a $267 million termination fee. ...

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