FedEx Wins No-Strings-Attached Approval for TNT Deal From EU - Bloomberg
FedEx Corp. won unconditional approval from European Union regulators to buy smaller parcel delivery rival TNT Express NV, almost three years after United Parcel Service Inc. was blocked from a similar takeover.
The EU’s formal review of the 4.4 billion-euro ($4.8 billion) deal revealed no antitrust concerns, the companies said in a statement Friday. The deal still needs clearance in Brazil and China and the companies “anticipate that the offer will close in the first half of” 2016.
FedEx Corp. won unconditional approval from European Union regulators to buy smaller parcel delivery rival TNT Express NV, almost three years after United Parcel Service Inc. was blocked from a similar takeover.
The EU’s formal review of the 4.4 billion-euro ($4.8 billion) deal revealed no antitrust concerns, the companies said in a statement Friday. The deal still needs clearance in Brazil and China and the companies “anticipate that the offer will close in the first half of” 2016.
