|UPS Announces Withdrawal of Offer for TNT Express|
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As anticipated, the
UPS proposed significant and tangible remedies designed to address the
EC’s concerns with the transaction concerning the competitive landscape
While UPS is disappointed in the EC’s decision, the company’s focus is on the continued execution of its growth strategy.
UPS (NYSE:UPS) is a global leader in logistics, offering a broad range
of solutions including the transportation of packages and freight; the
facilitation of international trade, and the deployment of advanced
technology to more efficiently manage the world of business.
UPS is making the Offer on the terms and subject to the conditions and
restrictions contained in the Offer Memorandum, dated
Terms not defined in this press release shall have the meaning as defined in the Offer Memorandum.
This announcement contains selected, condensed information regarding the Offer and does not replace the Offer Memorandum and/or the Position Statement. The information in this announcement is not complete and additional information is contained in the Offer Memorandum and the Position Statement.
Shareholders are advised to review the Offer Memorandum and the Position Statement in detail and to seek independent advice where appropriate to reach a reasoned judgment in respect of the Offer and the content of the Offer Memorandum and the Position Statement.
Copies of the Offer Memorandum are available free of charge at the
offices of UPS,
Except for historical information contained herein, the statements made
in this release constitute forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements,
including statements regarding the intent, belief or current
expectations of UPS and its management regarding the company's strategic
directions, prospects and future results, involve certain risks and
uncertainties. Certain factors may cause actual results to differ
materially from those contained in the forward-looking statements,
including economic and other conditions in the markets in which we
operate, our competitive environment, increased security requirements,
strikes, work stoppages and slowdowns, changes in energy prices,
governmental regulations and other risks discussed in the company's Form
10-K and other filings with the
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