Following the ruling, UPS said it is seeking $1.99 billion (1.74 billion euros) in damages.
In a development that potentially opens up the possibility of potential litigation against the European Commission, on Wednesday, the European Court of Justice annulled a 2013 European Commission decision which blocked the planned acquisition of U.S. package delivery company UPS’s with that of its Dutch peer TNT Express, citing a procedural error.
UPS has said it is seeking $1.99 billion (1.74 billion euros) in damages.
In 2016, FedEx Corp acquired TNT for 4.4 billion euros after it was approved by the European Commission.
In 2013, the European Commission had struck down UPS’s planned 5.2 billion euro deal saying it had not offered sufficient concessions to allay concerns that the deal would hurt consumers.
In its ruling, the European Court of Justice stated, the European Commission had infringed UPS’s rights of defense by using a different econometric model in its analysis than that used in its exchange of views and arguments with UPS.