Ministry of Commerce People’s Republic of China unconditionally approves FedEx acquisition of TNT Express

FedEx Corporation (FedEx), FedEx Acquisition B.V. (the Offeror) and TNT Express N.V. (TNT Express) jointly announced on April 29, 2016, that the companies have obtained the unconditional approval of the Ministry of Commerce People’s Republic of China (MOFCOM) in connection with the intended acquisition of TNT Express by FedEx. 

With the approval of MOFCOM, the Offer Condition with respect to Competition Clearances has now been fulfilled.

David Bronczek, President and CEO, FedEx Express, said, “I want to thank the team members who collaborated with regulatory authorities around the world to help us reach this important acquisition milestone.” Bronczek added, “As we work towards closing the acquisition, we look forward to welcoming TNT Express team members to the FedEx family of companies as we expand our portfolio of solutions and connect even more people and possibilities.”

Tex Gunning, Chief Executive Officer, TNT Express, said of the announcement, “With this final regulatory approval, we are one step closer to making the vision of combining the complementary networks of FedEx and TNT Express a reality.” He added, “This intended acquisition will bring value for our customers, shareholders and employees.”

Source: FedEx and TNT Express