ALERT: UPS-TNT Deal Collapses

United Parcel Service Inc. said Monday it will abandon its €5.2 billion ($7.0 billion) bid for TNT Express NV after determining that it could not overcome the objections of the European Union’s antitrust watchdog.

Both UPS and TNT stock were trading lower Monday morning, with TNT’s off more than 40%, as of 9:12 am ET.

See coverage of the failed deal from The Wall Street Journal, Bloomberg, Reuters, and the Financial Times.

Additional coverage on CargoFacts.net of the failed deal is forthcoming.