S&P 500
0.00
+0.00%
Dow Jones
51,270.00
-0.20%
Nasdaq 100
30,551.50
-0.53%
Russell 2000
2,917.18
-0.54%
FTSE 100
10,388.00
+0.50%
Nikkei 225
66,964.20
-0.80%

Services

UPS Hits Snag in European Acquisition

Photo of Paul Ausick
By Paul Ausick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
United Parcel Service Inc. (NYSE: UPS) said today that it has received a “statement of objections” from the European Commission (EC) related to the company’s $6.7 billion acquisition of TNT Express NV. Calling the document “a normal step in a second phase merger procedure,” UPS said that it and TNT will respond “within a couple of weeks.”

The EC document is confidential, according to UPS, which did not specify any of the objections raised by the EC, but did say that they addressed “the competitive effects of the intended merger on the international express small package market in Europe.” According to the UPS press release:

The combined company will help create a more efficient logistics market, thereby improving the competitiveness of Europe and the solutions offered to businesses and consumers. Those benefits include future improvements to e-commerce to help achieve the EU objective of a Digital Single Market. In addition, customers and consumers will benefit from a broader portfolio of services and better global access, along with lower supply-chain costs overall and improved service levels in terms of timing and reliability.

The acquisition, if it is approved, would double UPS’s footprint in Europe and would immediately add to the company’s earnings.

Shares of UPS are down about 2.2% at $72.01 in a 52-week range of $66.46 to $81.79.

Paul Ausick

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Chris Lange |

Key Analyst Sees Over 15% Upside in FedEx

FedEx is spreading its wings and preparing to take flight as the company looks to expand further into Europe with…

Chris Lange |

Is FedEx Now a Cheap Stock?

By Tkgd2007 at en.wikipedia [Public domain], from Wikimedia CommonsFedEx Corp. (NYSE: FDX) is a leading international provider of package delivery,…

Will the FTC Seek to Break Up Old Technology Mergers and Acquisitions?
Jon C. Ogg |

Will the FTC Seek to Break Up Old Technology Mergers and Acquisitions?

The FTC has asked five large technology firms to provide information about prior acquisitions that were not reported to the…

Douglas A. McIntyre |

FCC Attacks AT&T (T)

Documents from the FCC analysed by The Wall Street Journal show the extent to which the agency resisted a deal for…

Jon C. Ogg |

Merger Watchdogs Asleep in Medco-Express PBM Merger? (MHS, ESRX)

Isn’t the current administration’s watch-dog policy supposed to police mergers and acquisitions in regards to competition and pricing power?  Many…

Chris Lange |

Could Foreign Companies Help Block the Kraft-Heinz Merger

The Kraft-Heinz merger may come under fire from foreign competition. 24/7 Wall St. ponders how the competitors such as Nestlé…

Airgas to Become Part of Air Liquide
Jon C. Ogg |

Airgas to Become Part of Air Liquide

After a pre-merger market rumor surfaced, now the deal is confirmed — Air Liquide, based in France, is acquiring U.S.-based…

Jon C. Ogg |

American Express Is Going Shopping For Acquisitions (AXP, MA, V, EBAY, GOOG, AAPL, PAY)

The number of ways consumers can spend their money is poised to get larger. The familiar credit and debit cards…

Paul Ausick |

Consumers Union Rips Comcast-Time Warner Merger

In a filing on Thursday with the FCC, Consumers Union urged the commission to deny the proposed merger of Comcast…

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 153,008,482
Enphase Energy
ENPH • Vol: 8,340,137
Corning
GLW • Vol: 18,112,936
Alexandria Real Estate Equities
ARE • Vol: 4,336,915
Aptiv
APTV • Vol: 6,761,083

Top Losing Stocks

Trade Desk
TTD • Vol: 21,850,071
Intuit
INTU • Vol: 7,369,101
Coterra Energy
CTRA • Vol: 73,319,495
Cboe Global Markets
CBOE • Vol: 4,997,290
HP
HPQ • Vol: 29,236,216