US Gives Blessing to FedEx-TNT Merger
FedEx Corp. and Dutch counterpart TNT Express have won U.S. antitrust permission to merge, according to a listing of approved deals the Federal Trade Commission issued Nov. 24.
The European Union has yet to sign off on the proposed transaction, although the companies have said they received assurances that EU antitrust regulators would allow it to go forward. In early November, the companies announced that the FedEx tender offer had been extended until Jan. 8 to allow more time for completion of regulatory reviews in countries such as China and Brazil.
The companies announced in April that FedEx would buy TNT for $4.9 billion in order to better compete in Europe. The deal should catapult FedEx to second place in Europe behind Deutsche Post's DHL.
FedEx is No. 2 on the Transport Topics Top 100 list of the largest for-hire carriers in the United States and Canada.
