UPS Inc. said its planned $6.5 billion purchase of Netherlands-based TNT Express will be completed in the first quarter of 2013, to allow European Union regulators additional time to review the deal.
European regulators resumed a probe of the planned deal — which was first announced in March — late last month, after extending regulatory review through Nov. 9.
“UPS and TNT Express remain committed to the offer and are working closely to fulfill all offer conditions,” the two said in a joint statement Wednesday.
UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.