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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| United Parcel Service | NYSE:UPS | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -1.08 | -0.73% | 146.40 | 148.14 | 145.37 | 147.28 | 2,851,409 | 00:47:23 |
From May 2019 to May 2024
By Gabriele Steinhauser
BRUSSELS--The European Commission on Friday opened an in-depth investigation into FedEx Corp.'s EUR4.4 billion ($4.8 billion) deal to buy TNT Express NV, saying it was concerned about the merged company's dominance in the international delivery of small packages in some European markets.
The commission, the European Union's antitrust watchdog, said the two remaining international delivery companies, United Parcel Service Inc. and DHL Worldwide Express Inc., may not provide sufficient competition to the merged company.
"This could lead to higher prices for business customers and consumers," the commission said.
The commission now has until Dec. 8 to investigate the proposed acquisition and to decide whether to approve the deal or ask the companies for concessions to ease its concerns.
The two companies announced the deal in April.
Write to Gabriele Steinhauser at gabriele.steinhauser@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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