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Stock Market & Financial Investment News

News Breaks
January 30, 2013
05:48 EDTTNTEY, UPSEuropean Commission confirms blocking of UPS takeover of TNT Express
The European Commission announced that it has prohibited under the EU Merger Regulation the proposed acquisition of TNT Express (TNTEY) by UPS (UPS). The Commission found that the take-over would have restricted competition in 15 Member States when it comes to the express delivery of small packages to another European country. In these Member States, the acquisition would have reduced the number of significant players to only 3 or 2, leaving sometimes DHL as the only alternative to UPS, the EU said. The agency added, "The concentration would therefore have likely harmed customers by causing price increases. During the investigation, UPS offered to divest TNT's subsidiaries in these 15 countries and allow the buyer to access its intra-European air network for five years. The Commission carried out an in-depth assessment, including a market test where customers and other interested parties were consulted. However, these remedies proved inadequate to address the identified competition concerns." Recall that UPS dropped its takeover bid TNT Express, saying the merger would be blocked by the European Commission. Reference Link
News For UPS;TNTEY From The Last 14 Days
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April 14, 2015
07:10 EDTUPSAviation Week to hold a conference
MRO Americas 2015 is being held in Miami Beach on April 14-16.
April 12, 2015
13:45 EDTTNTEY, UPSUPS to invest $1.06B in Europe expansion, Reuters says
According to a report in German magazine Wirtschaftswoche, UPS (UPS) plans to invest over $1B in Europe to expand its package delivery network, says Reuters. Last week UPS rival FedEx (FDX) announced its intention to acquire TNT Express (TNTEY) for EUR 8.00 per share. Reference Link

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