- UPS expected to complete its acquisition of TNT Express in the fourth quarter of 2012
After months of negotiations, the EU Commissions finally made a call on Phase I of the TNT Express’ acquisition process. The EUR 5.16 billion transaction carried out by courier services provider UPS aims at creating a highly customer-focussed worldwide parcel services leader. UPS also plans on utilising TNT Express’ extensive European road network in order to facilitate trade flows and increase its competitiveness in the European and American markets.
UPS expects Phase II of the investigation to last up to 25 weeks and may therefore extend it initial offer period beyond end of August.