Yesterday,
the EU Commission decided to resume its investigation into the merger of TNT Express NV. and its U.S. competitor UPS.
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| Image c/o bloomberg.com |
An official statement on the Commission’s website confirmed that investigations had
resumed on 14th August after a week’s suspension on the grounds of
the participating parties' inability to meet the submission deadline.
Now, a new
provisional deadline has been set as 20th December 2012.
A day before
the decision was made, UPS published a statement declaring its
intention to apply for a deadline extension in order to get approval for the
proposed offer of EUR 9.50 per share.
Both
companies remain confident about the 5.2-billion-Euro acquisition which they
hope to close by the end of this year.
Sources:
PostandParcel.info, MarketWatch.com
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