Brazilian anti-trust authorities rejected an appeal by UPS against the merger of FedEx & TNT - Bidness
FedEx Corporation has gained approval from Brazil's anti-trust authorities as the Conselho Administrativo de Defesa Econômica (CADE) has rejected a third-party appeal filed by United Parcel Service over the takeover. The CADE has cleared FedEx for an all cash $4.8 billion takeover bid for TNT. The takeover will incorporate all issued, and outstanding shares of TNT including American depository receipts (ADR) as well.
FedEx Corporation has gained approval from Brazil's anti-trust authorities as the Conselho Administrativo de Defesa Econômica (CADE) has rejected a third-party appeal filed by United Parcel Service over the takeover. The CADE has cleared FedEx for an all cash $4.8 billion takeover bid for TNT. The takeover will incorporate all issued, and outstanding shares of TNT including American depository receipts (ADR) as well.
