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EU: UPS won’t give up the fight on TNT Express takeover

By  |  April 8, 2013

While United Parcel Service has not formally renewed its bid to buy TNT Express, UPS has reportedly logged an appeal of the most recent European Commission decision blocking the two from merging for $6.7 billion. UPS looked to buy the Dutch-based shipping company in efforts to gain a stronger footing in non-US markets. UPS withdrew its bid last January in response to the Commission signaling their disapproval of the deal. A spokesperson for the company noted that plans for the buyout may be revisited in the future, depending on the results of the appeal, which the spokesperson said was intended to ensure future acquisitions by UPS aren’t blocked by EU authorities. The UPS buyout of TNT Express was blocked after the Commission found the transaction would downsize the number of sufficient competitors in the market across Europe from four to three.

 

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