The European Commission has told UPS (UPS) that it is working on a decision to block the U.S....

|By:, SA News Editor

The European Commission has told UPS (UPS) that it is working on a decision to block the U.S. company's €5.2B acquisition of Dutch rival TNT Express. If the deal is not approved, UPS will pay TNT a termination fee of €200M and withdraw the offer. The EU's likely decision is not a surprise given that Competition Commissioner Joaquin Almunia has expressed antitrust concerns about the transaction. (PR)