UPS wins court challenge against EU block to TNT bid

[cheryl]

UPS wins court challenge against EU block to TNT bid - Reuters

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.

 

[TearsInRain]

the EU

 

[Ghost in the Darkness]

The fix was in.

 

[Old Man Jingles]

the EU

Yeah the EU is like our National Government but even worse!

 

[Turdferguson]

Yeah the EU is like our National Government but even worse!

The way that has worked out for FedEx, they did UPS a favor. They are killing their bottom line

 

[Old Man Jingles]

The way that has worked out for FedEx, they did UPS a favor. They are killing their bottom line

Still hurt UPS because FedEx has a much larger presence in the market in Europe and Asia.

 

[Turdferguson]

Still hurt UPS because FedEx has a much larger presence in the market in Europe and Asia.

I thought I read somewhere that they think it will take four year to recover from that computer virus that got them, also read where UPS pharmaceutical subsidiary bought three more companies in Europe. They are moving hard into the logistics field for pharmaceutical and medical equipment