FedEx Corporation (FedEx) (NYSE:FDX), FedEx Acquisition B.V. (the Offeror) and TNT Express have obtained the unconditional approval of the European Commission in connection with the FedEx Acquisition B.V. offer for all the issued and outstanding ordinary shares in the capital of TNT Express N.V., the companies said.
After its investigation, the European Commission has concluded that the deal does not raise any competition concerns.
FedEx and TNT Express continue to work constructively with the regulatory authorities to obtain clearance of the transaction in the remaining jurisdictions, including Brazil and China. FedEx and TNT Express are making timely progress and continue to anticipate that the Offer will close in the first half of calendar year 2016.
FedEx provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services.
TNT Express is an express delivery company that daily delivers close to one million consignments ranging from documents and parcels to palletised freight. The company operates road and air transportation networks in Europe, the Middle East and Africa, Asia-Pacific and the Americas.