FedEx Corporation, FedEx Acquisition B.V. and TNT Express have jointly announced that they have obtained the unconditional approval of the European Commission in connection with the acquisition of TNT Express by FedEx. After its investigation, the European Commission had concluded that the deal does not raise any competition concerns.
David Binks, Regional President Europe, FedEx Express, said, “We are extremely pleased to receive the European Commission’s unconditional approval,” adding “We believe the combination of TNT Express and FedEx will provide significant value to the employees, customers and shareholders of both companies.”
FedEx and TNT Express are expected to continue to work with the regulatory authorities to obtain clearance of the transaction in the remaining jurisdictions, including Brazil and China.
FedEx and TNT Express anticipate that the Offer will close in the first half of calendar year 2016.