United Parcel Service Inc (UPS) said it will withdraw its 5.2 billion euro ($7 billion) bid for TNT Express because it expects the European Commission (EC) to block the deal.UPS, the world's No. 1 package delivery company, was seeking to purchase Dutch peer and European market leader TNT Express to gain access to its network in the fast-growing Asian and Latin American markets.The EC has informed UPS and TNT Express that it is working on a decision to prohibit the proposed acquisition, the two companies said in separate statements."UPS will pay TNT a termination fee in the amount of 200 million euros and will withdraw the offer," once the formal decision is taken, UPS said on Monday.
Market Leader, Inc., online technology and marketing solutions for real estate professionals across the United States and Canada. Shares of LEDR traded higher by 1.15% or $0.08/share to $7.06. In the past year, the shares have traded as low as $2.45 and as high as $7.33. On average, 73912 shares of LEDR exchange hands on a given day and today's volume is recorded at 22092.
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 0.36% or $-0.28/share to $77.92. In the past year, the shares have traded as low as $69.56 and as high as $81.79. On average, 3525420 shares of UPS exchange hands on a given day and today's volume is recorded at 2324368.
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