FedEx-TNT deal clears final regulatory hurdle

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FedEx-TNT deal clears final regulatory hurdle - Commercial Appeal

FedEx said Friday that the biggest acquisition in the company’s 43-year history has cleared its final regulatory hurdle, after the deal received approval from Chinese officials.

The Memphis-based parcel delivery service said the $4.8 billion acquisition of Europe's third-largest delivery company entered the home stretch with approval by Ministry of Commerce People's Republic of China. The acquisition is expected to close by June 30.
 
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