No merger with UPS : DHL

Package delivery Giants DHL and UPS Inc on Tuesday defended their agreement for UPS to assume flying for struggling DHL in North America, telling Congress the plan would not hurt competition."It's not a merger and it's not anti-competitive," DHL Express Global Chief Executive mullen told.
"We believe this will leave us a viable competitor, preserving competition in the marketplace," Mullen said.
UPS hopes to add $1 billion in revenue, under the 10-year agreement. DHL plans to pay $260 million in severance and benefits to affected employees.