U.P.S. Seeks More Than $2 Billion in Damages Over TNT Bid
- 6 years ago
U.P.S. Seeks More Than $2 Billion in Damages Over TNT Bid
LONDON — United Parcel Service has sued European antitrust regulators for a decision they made five years ago
that blocked its takeover of the Dutch delivery company TNT Express, according to a record of court proceedings published on Monday.
The General Court of the European Union annulled the decision by European Commission regulators last year, in part
because the commission had used different economic models at different times to evaluate the deal.
filed a claim in December seeking 1.74 billion euros, or about $2.14 billion, plus interest, according to a notice published on Monday.
had pursued the TNT merger in the hope of gaining a larger presence in Europe and in emerging markets, but European officials rejected it because of concerns
that the transaction would decrease competition and increase prices.
LONDON — United Parcel Service has sued European antitrust regulators for a decision they made five years ago
that blocked its takeover of the Dutch delivery company TNT Express, according to a record of court proceedings published on Monday.
The General Court of the European Union annulled the decision by European Commission regulators last year, in part
because the commission had used different economic models at different times to evaluate the deal.
filed a claim in December seeking 1.74 billion euros, or about $2.14 billion, plus interest, according to a notice published on Monday.
had pursued the TNT merger in the hope of gaining a larger presence in Europe and in emerging markets, but European officials rejected it because of concerns
that the transaction would decrease competition and increase prices.