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Tuesday, October 16, 2012

UPS says committed to TNT deal, (NYSE: UPS)

United Parcel Service Inc said on Tuesday it was committed to its 5.2 billion euro ($6.7 billion) bid for Dutch rival TNT Express and urged EU antitrust regulators to be "reasonable" in assessing it. The European Commission is worried the proposed merger will reduce the number of players from four to three, leaving the combined UPS/TNT group to compete only with Deutsche Post's DHL and FedEx.The Commission, which regulates antitrust matters in the 27-member European Union, is preparing to detail its objections to the takeover, which will reinforce UPS as the world No. 1 package delivery company.According to analysts at Bernstein Research, a merged UPS and TNT would have 25 percent of the European express services market, ahead of DHL with 19 percent.UPS argues that it faces a number of competitors, ranging from French mail company DPD, owned by La Poste, and Royal Mail's European express parcel service GLS, to freight forwarders like Swiss companies Kuehne & Nagel and Panalpina.

United Parcel Service, Inc. (UPS) is a package delivery company that operates in the United States less-than-truckload industry, and the provider of global supply chain management solutions. Shares of UPS fell by 0.21% or $-0.15/share to $72.44. In the past year, the shares have traded as low as $66.46 and as high as $81.79. On average, 4136600 shares of UPS exchange hands on a given day and today's volume is recorded at 232890.