In a joint press release from FedEx Corporation, FedEx Acquisition B.V. and TNT Express N.V, the companies jointly announced that a third party has filed an appeal of the unconditional approval of the Offer by Conselho Administrativo de Defesa Econômica (CADE), which was announced on February 2, 2016.
FedEx and TNT Express have announced they plan to continue working with regulatory authorities to obtain clearance of the transaction in the relevant jurisdictions, including China. According to the announcement, FedEx and TNT Express remain confident that the Offer will close in the first half of calendar year 2016.
Source: FedEx and TNT Express
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