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European Regulators Scotch UPS/TNT Deal

It looks like United Parcel Service's proposed deal to buy European package giant TNT Express will not go through, after the European Commission informed the two companies that it is working on a decision to prohibit the proposed acquisition. UPS announced last March plans to acquire Dutch package company TNT Express for 5.16 billion euros or $6.8 billion. It would have been UPS' biggest purchase to date