UPS drops bid for Dutch company

European regulators feared that a UPS takeover of TNT Express would harm competition.

Peter Dejong/Associated Press/File

European regulators feared that a UPS takeover of TNT Express would harm competition.

LONDON — United Parcel Service said Monday that it would withdraw its $6.9 billion takeover bid for TNT Express, a Dutch shipping company, after European anti­trust authorities told UPS that they would block the deal.

The announcement is a blow to UPS’s expansion outside of the United States, as the deal for TNT Express would have given the US company a larger presence in Europe and emerging markets.


Since first announcing the deal last March, UPS had faced difficulties with European regulators, who feared the takeover would hamper competition.

To appease antitrust concerns, UPS had agreed to sell a number of business units and to grant access to some of its airline network to rivals. TNT Express also said it would sell its own airline operations.

Get Talking Points in your inbox:
An afternoon recap of the day’s most important business news, delivered weekdays.
Thank you for signing up! Sign up for more newsletters here

The company had been locked in negotiations with European regulators since November, but was told late last week that its proposed concessions did not meet authorities’ demands.

‘‘We are extremely disappointed with the European Commission’s position,’’ UPS chief executive, D. Scott Davis, said. ‘‘We proposed significant and tangible remedies designed to address the European Commission’s concerns with the transaction.’’

New York Times

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of