Business, Freight News, Logistics

UPS–TNT merger: Brussels asks for more time

[ July 17, 2012   //   ]

The European Commission has asked for more time to review UPS’s proposed acquisition of TNT Express , saying that there are certain areas that require more time to analyze. As a ‘Phase II’ investigation can take up to 25 weeks to complete, it is likely the offer condition relating to competition clearance will not be satisfied by the end of the initial offer period said UPS which therefore expects to extend beyond the initial 31 August deadline. The deal is expected to be completed in the fourth quarter of 2012.

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