UPS terminate planned acquisition of TNT Express
14th January, 2013
On January 11, 2013, TNT Express and UPS met with the European Commission's (EC) case team investigating the proposed acquisition of TNT Express by UPS. The case team informed the companies that on the basis of UPS's current remedy proposal it is working towards proposing a prohibition decision.
Subsequently, UPS informed TNT Express that it sees no realistic prospect that EC clearance can be obtained and that UPS will not pursue the transaction on any other basis.