* Tennessee - FedEx gets final OK to buy TNT Express
--- Now that the government of China has unconditionally approved FedEx Corp.’s intended acquisition of TNT Express N.V., the massive deal is on track to close by June 30, according to the two firms... It was just over a year ago that FedEx announced its intention to purchase the Holland-based carrier for $4.8 billion. Back on April 6, 2015, the two parcel carriers said they had reached agreement on the 8-euro-per-share offer, which they said represented a premium of 33% over the latest stock closing price of April 2... The acquisition was unanimously recommended by TNT Express’ Executive Board and Supervisory Board. Since then, the deal has gone through a series of regulatory approvals by various countries, culminating in the sign off on Friday of China’s Ministry of Commerce... Currently, United Parcel Service and Deutsche Post are the two biggest package carriers in Europe, followed by TNT and then FedEx. It has been suggested the deal could enable FedEx to leapfrog to second place on the continent...
(Image: TNT.com) -- Memphis, TN, USA - TruckingInfo, by David Cullen - May 02, 2016Labels: trucking industry news worldwide
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