8:25 am March 19, 2012, by David Markiewicz
UPS just announced its deal to buy Dutch shipper TNT Express for $6.8 billion, but already there’s talk of possible opposition to the purchase.
The Wall Street Journal is reporting that Deutsche Post AG, the German mailing and logistics business, “expects authorities to have serious reservations” concerning the acquisition of its rival, which is the third-biggest express service provider in Europe.
The transaction would make Atlanta-based UPS a market leader in Europe and, the story said, “lift its global ranking above that of FedEx and the DHL unit of Deutsche Post.”
UPS CFO Kurt Kuehn expects approval of the purchase, the story noted, even though some big trans-Atlantic deals have met with headwinds recently.
UPS said the deal would close by September.
UPS and rival FedEx have sought TNT’s express mail delivery business in recent years, according to The New York Times.
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