Joined Nov 11, 2007
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$UPS Drops its $7 Billion Bid for TNT Express

“Antitrust concerns will force UPS to scrap its acquisition of Dutch TNT Express. UPS expects the European Commission will not allow the proposed $7 billion deal to happen, despite negotiations over restructuring the merged businesses.

“We are extremely disappointed with the European Commission’s position. We proposed significant and tangible remedies designed to address the EC’s concerns with the transaction,” says UPS CEO Scott Davis….”

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