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7/30/2012 1:00:00 PM Write a Letter to the Editor Write a letter to the Editor

Review Extended on UPS’ Acquisition of TNT

Dutch Package Carrier Reports 2Q Profit

UPS Inc. agreed to a 10-day antitrust extension of its planned purchase of Netherlands-based package firm TNT Express by European regulators, while TNT reported a strong second-quarter profit, Bloomberg reported.

European officials earlier this month extended the regulatory review time needed in UPS’ planned $6.3 billion acquisition of TNT into the fourth quarter, from an originally targeted Aug. 31 deadline.

The review has now been extended until Dec. 12, according to a European Commission filing, Bloomberg said.

TNT, meanwhile, reported its second-quarter profit surged 10-fold from a year ago to $49 million, Bloomberg reported, citing a company statement.

Strong volume growth in Europe and cost savings and revenue-enhancement initiatives boosted the company’s profits in the Asia-Pacific region, TNT CEO Marie-Christine Lombard said in the statement.

UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.

By Transport Topics

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