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TRANSACTION * USA - Lawmakers Raise Concerns on UPS-DHL Air Deal
Up to 8,000 jobs could be lost at DHL’s air cargo facility in Wilmington, Ohio, if the agreement for UPS to handle DHL’s North American air cargo goes through
Washington,DC,USA -Transport Topics -17 Sept 2008: -- Ohio officials told federal lawmakers they have been rebuffed in their efforts to persuade DHL to consider alternatives to its proposed agreement to have UPS Inc. carry its North American air packages, the Associated Press reported... The proposed deal is the most complex transaction in 30 years of aviation deregulation and may violate federal antitrust law, House Transportation and Infrastructure Committee Chairman James Oberstar (D-Minn.) said at a hearing Tuesday in Washington, the Columbus Dispatch reported... Oberstar characterized the deal as more an acquisition than a merger, the Dispatch said... A UPS spokesman said that a formal agreement is expected by the end of the year, AP reported. It is expected to add up to $1 billion in annual revenue to UPS...
Labels: transaction
posted by Unknown @ 10:18 PM
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