Court adviser suggests ruling against EU veto of UPS, TNT merger - Reuters
Europe's top court should rule against the EU's veto of United Parcel Service's (UPS.N) takeover bid for Dutch peer TNT because of procedural errors by regulators, a court adviser said on Wednesday.
Such a judgment from the Court of Justice of the European Union (ECJ) could boost UPS, the world's largest package delivery company, in its lawsuit against the European Commission for 1.7 billion euros (1.51 billion pounds) in damages.
The Commission in its 2013 decision said UPS had not offered sufficient concessions to address its concerns that the 5.2-billion-euro ($6.1 billion) deal would lead to higher prices.
Europe's top court should rule against the EU's veto of United Parcel Service's (UPS.N) takeover bid for Dutch peer TNT because of procedural errors by regulators, a court adviser said on Wednesday.
Such a judgment from the Court of Justice of the European Union (ECJ) could boost UPS, the world's largest package delivery company, in its lawsuit against the European Commission for 1.7 billion euros (1.51 billion pounds) in damages.
The Commission in its 2013 decision said UPS had not offered sufficient concessions to address its concerns that the 5.2-billion-euro ($6.1 billion) deal would lead to higher prices.
