United Parcel Service (UPS) has appealed the European Commission’s rejection of its €5.16 billion ($6.7 billion) bid to acquire TNT Express.
The appeal filed with the European Union General Court in Luxembourg is not aimed at reviving the UPS-TNT merger, at least in the near term. Instead, UPS is seeking to invalidate the EC’s decision as a precedent to be used for judging the antitrust implications of any future attempted acquisitions in Europe.
“We believe the decision was factually and legally erroneous,” a UPS spokesperson said in an emailed statement. “We are challenging the decision in order to ensure a more accurate assessment of the EU competitive landscape and that no precedent is established by the EC that would limit international growth opportunities.”
UPS said it wants to ensure that the rejection of its attempted purchase of TNT will “not be used as a basis for future decisions by the EC.”