UPS Reverses Course In $6.8B TNT Merger

Law360, New York (January 14, 2013, 12:34 PM EST) -- United Parcel Service Inc. said Monday that it would abandon its effort to buy Dutch delivery company TNT Express NV for $6.8 billion, bowing to stiff resistance from European antitrust regulators.

UPS said it would pay TNT a $200 million termination fee to walk away from the deal, first announced in March, after regulators informed the two companies that they were planning to block its completion. A formal decision from the European Commission's antitrust office is scheduled for Feb 5.

Though the companies offered to divest...
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