EU court paves way for $2bn UPS claim over TNT bid

16/01/2019

UPS could sue the EU for $2bn in damages after a court ruled that the European Commission wrongly vetoed UPS’s proposed takeover of TNT Express. Instead, FedEx paid €4.4bn for TNT in 2016.

UPS said it would seek €1.74bn in damages after the European Court of Justice ruled it its favour, claiming procedural error by the commission. Reuters reports.