TNT shares slump after UPS walks away from bid
UPS is dropping its US$7 billion bid for Dutch delivery firm TNT Express after European anti-trust regulators said they would veto it, leaving TNT’s future in doubt and almost halving the value of its shares.
Shares in US-based United Parcel Service gained 1.2 per cent on Monday after the world leader in the sector said in a statement that European Union officials told it the EU executive Commission would veto the deal. An EU source confirmed that and said the decision could be made public as early as next week.
via Business feed http://www.scmp.com/business/companies/article/1128426/tnt-shares-slump-after-ups-walks-away-bid