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Aug 26, 2015

TRUCKING INDUSTRY * USA: FedEx Corp. and TNT N.V., the acquisition

* Tennessee - FedEx to start tender offer for TNT
-- FedEx Corp. and TNT N.V. said the U.S. company would begin a tender offer for the Dutch package and freight carrier’s shares on Aug. 24 to advance their planned $4.8 billion merger... The plan calls for FedEx, which intends to expand its global capability through the acquisition, to spend 8 euros (about $9) per share for TNT was announced on April 7... The European Commission is reviewing competitive ramifications of the proposal, which could vault FedEx into a virtual tie with UPS Inc. as the largest U.S.-based freight companies by revenue, each with nearly $60 billion in annual sales... After completion, the combined market share of FedEx and TNT’s package business in Europe would be similar to rival package carriers UPS and DHL, based on an industry analysis... 
Memphis, TENN, USA - Transport Topics - 21 Aug 2015

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