UPS Loses EU Court Bid for Compensation Over Botched Merger Veto
- Court says firm made its own choice to break off deal early
- EU court had already ruled that the EU wrongly vetoed the deal
A UPS worker in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
United Parcel Service Inc. lost its court fight to get €1.7 billion ($1.9 billion) in compensation following the European Union’s botched veto of its takeover bid for TNT Express.
The EU’s Court of Justice on Thursday dismissed the appeal, saying in a statement that it was UPS’s own decision to break off the deal and “the irregularity committed by the commission is not the determining cause of UPS’s alleged loss of profit.”