“I want to thank the team members who collaborated with regulatory authorities around the world to help us reach this important acquisition milestone. As we work towards closing the acquisition, we look forward to welcoming TNT Express team members to the FedEx family of companies as we expand our portfolio of solutions and connect even more people and possibilities.”
The merger was first announced in April 2015 when FedEx offered TNT shareholders €8 per share, representing a premium of 33% over the closing price of 2 April 2015. There had been many concerns surrounding the offer with some competitors arguing that the deal would limit trade in certain routes. Additionally, a similar merger between UPS and TNT fell through in 2012. Tex Gunning, Chief Executive Officer, TNT Express, said:
“With this final regulatory approval, we are one step closer to making the vision of combining the complementary networks of FedEx and TNT Express a reality. This intended acquisition will bring value for our customers, shareholders and employees.”
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