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FedEx is given approval by EU regulators for TNT deal
FedEx has been given the go-ahead by EU anti-trust regulators to acquire TNT Express for roughly $4.4 billion (USD). The deal is expected to be completed in the first half of 2016.
The European Commission had been investigating the deal on the basis that acquiring TNT could give FedEx too much dominance in European markets. This was following the rejection of UPS’ bid to acquire TNT in 2013.
The announcement came via FedEx, who have reportedly been told by the European Commission that no Statement of Objections will be issued. They are now on track for closing the deal.
(Source: Financial Times)