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Tuesday, December 18, 2012

UPS offers more EU concessions to secure TNT deal - sources, (NYSE: UPS)

United Parcel Service Inc has offered more concessions in a bid to gain EU regulatory approval for its 5.2-billion-euro ($6.84 billion) TNT Express bid, two persons familiar with the matter said on Tuesday. The world No. 1 package delivery company submitted its latest offer to the European Commission on Monday, one of the sources said."The remedies are substantially improved," the second person said, declining to provide details because of the sensitivity of the matter.Last month, UPS said in an initial offer it was willing to sell assets and open up its flight operations to rivals. Sources said at the time that these included divesting warehouses and customer bases in about 15 countries mainly in eastern Europe.

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 remained unchanged at $73.36. In the past year, the shares have traded as low as $69.56 and as high as $81.79. On average, 4062800 shares of UPS exchange hands on a given day and today's volume is recorded at 0.