FedEx Corporation agrees to buy Dutch delivery company TNT Express N.V for €4.4 bln. FedEx reached a conditional agreement to pay €8.00 in cash per ordinary TNT Express share.
On a daily basis, TNT delivers close to one million consignments ranging from documents and parcels to palletised freight. In 2014, TNT made €6.7 billion in revenue.
The combined companies will offer an integrated global network, combining TNT Express strong European capabilities and FedEx’s strength in other regions globally, including North America and Asia. Their regional headquarters will be in Amsterdam/Hoofdorp.
FedEx and TNT Express anticipate that the Offer will close in the first half of calendar year 2016.
Source: FedEx Corp