BRUSSELS – A European Union court has struck down a 2013 decision by EU regulators to block a planned takeover of Dutch-based package delivery company TNT Express by United Parcel Services Inc.
The EU's executive Commission blocked the proposed $6.9 billion deal in January 2013, arguing that the combined company would have been too dominant in European express mail. UPS scrapped the plan but appealed against the ruling.
The 28-nation EU's General Court on Tuesday upheld the appeal, citing a procedural irregularity.
It argued that an analysis used by the Commission in its decision was based on a model different from one that had been discussed during the clearance proceedings. It found that the Commission "infringed UPS' rights of defense."
TNT has since been acquired by FedEx Corp.