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UPS cancels deal for Estafeta

UPS said Thursday it has ended plans to acquire Mexican express delivery and logistics company Estafeta because the companies were unable to satisfy all closing conditions. The Atlanta-based parcel giant disclosed the turn of events in a filing with the Securities and Exchange Commission. “We remain committed to growth in Mexico and delivering the reliable service our customers expect,” a UPS spokesperson said in an email response. UPS announced the deal in July 2024 and said it expected to close on it ...