FedEx to buy TNT for US$4.8b to expand Europe deliveries

April 7, 2015 8:11 AM

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FedEx to buy TNT for US$4.8b to expand Europe deliveries

[AMSTERDAM] FedEx Corp launched a 4.4 billion euros (S$6.5 billion) bid to buy Dutch package delivery company TNT Express, seeking success where main rival United Parcel Service failed two years ago when its bid was blocked on competition concerns.

FedEx will offer 8 euros in cash per ordinary TNT Express share, in a deal that would give the US firm access to TNT's European road network and TNT customers access to FedEx's global distribution platform, the companies said on Tuesday.

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