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TNT shareholders give their approval of the FedEx deal
The shareholders of TNT Express have unanimously approved FedEx’s acquisition of the company, it was announced this week.
This news comes as the deal still awaits regulatory approval from the European Commission, which is undertaking an anti-trust investigation and may insist on concessions even if the bid is approved.
The deadline for their decision is January 2016. The company also needs approval from Brazil and China within a reasonable timescale for the deal to go through.
UPS has reportedly been lobbying against the approval. The company attempted to acquire TNT in 2013 but the deal was rejected by the Commission.
(Source: Bidness Etc)