YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
United Parcel Service is suing the European Commission for $2.14 billion plus interest.
The suit stems from the EU's antitrust watchdog's 2013 decision to block UPS' $7 billion planned merger with Dutch parcel-delivery company TNT Express.
The commission blocked the transaction over antitrust concerns. UPS officials disagree with those claims.
"We feel strongly that the proposed acquisition would have constituted a good deal for logistics customers," said Gregg Svingen, international director for public relations and communication at UPS. "The compensation being sought corresponds to what we believe, through objective assessments verified by expert third parties, to be the value of the opportunity wrongly prohibited by the European Commission."
Read more from Dow Jones Newswires.
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