EU’s top court rejects UPS $1.9 billion claim for blocked merger

(Reuters) – United Parcel Service Inc, 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)

(Reporting by Bart Meijer; editing by Jason Neely)

Reuters

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