The European Union regulator's decision to reject the Eur5.16 billion bid by United Parcel Services for TNT Express NV would be appealed. This was confirmed by a UPS spokeswoman with Reuters last Sunday.
The world's top package delivery company had dropped its bid to purchase the Dutch based delivery firm last January 14 because it had expected a veto of the merger from the EU. At that time, both firms were advised by the EU's executive body that a decision to prevent the acquisition was in the works.
According to Peggy Gardner, US spokeswoman through an email, UPS had decided to challenge the decision of the EU because it believes that the verdict was 'factually and legally erroneous.' She added, "We are challenging the decision in order to ensure a more accurate assessment of the EU competitive landscape and that no precedent is established by the EC that would limit international growth opportunities."
She confirmed that the appeal of the regulator's decision was submitted by UPS last week.
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