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United Parcel Service (UPS) vehicles are seen at a facility in Brooklyn, New York City, U.S., May 9, 2022. Andrew Kelly
United Parcel Service (UPS) vehicles are seen at a facility in Brooklyn, New York City, U.S., May 9, 2022. Andrew Kelly
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EU's top court rejects UPS $1.9 bln claim for blocked merger

December 21st, 2023 | 09:38 AM TECH Disrupted 1

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By Reuters

United Parcel Service Inc (UPS.N), the world's No. 1 logistics company, on Thursday lost its court fight for a record 1.74-billion euro ($1.90 billion) compensation claim from EU antitrust regulators for blocking its 2013 bid for Dutch rival TNT.

The European Commission had stopped UPS' planned 5.2-billion-euro acquisition of TNT because it had not offered enough remedies to allay concerns that the deal would hurt consumers.

($1 = 0.9142 euros)

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