Bruce Barnard, Special Correspondent | Aug 22, 2012 10:44AM EDT
United Parcel Service is extending the offer period for its Dutch rival TNT Express from Aug. 31 to Nov. 9 because the antitrust conditions for the deal won’t be met by the original deadline.
The move came after the European Commission last week temporarily halted its investigation of the 5.2 billion euro ($6.4 billion) deal until it receives all the necessary information.
The two companies said they still anticipate closing on the agreed takeover in the final quarter of 2012.
The commission began an in-depth probe of the takeover in July amid concerns the merged group would reduce competition in international express deliveries in several European Union countries.
Contact Bruce Barnard at brucebarnard47@hotmail.com.
