FedEx to buy TNT for $4.8 billion to take on rivals in Europe

Toby Sterling, Thomas Escritt
Reuters
April 07, 2015

FedEx Corp (FDX.N) is to buy Dutch package delivery firm TNT Express (TNTE.AS) for an agreed 4.4 billion euros ($4.8 billion), stepping up the challenge to rivals United Parcel Service (UPS.N) and Deutsche Post (DPWGn.DE) in Europe.

European regulators blocked a 2013 takeover of TNT by UPS due to concerns it would stifle competition, but analysts and executives said on Tuesday FedEx, with its strong air fleet, would complement TNT's sizeable European road network.

Click here to read more at Reuters.

 


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Carhaulers to Vote: Jack Cooper’s Chapter 11 Reorganization as a New Company

UPDATED August 6, 2019.     Jack Cooper’s 2200 Teamsters will vote on a contract proposal for a new company, which would take over Cooper’s assets. Wages and health benefits would remain the same: the major change would be a reduction in the new employer’s pension contribution.

Carhaul Members to Vote on Concessions at Jack Cooper Transport

Teamsters employed under the national carhaul contract by Jack Cooper Transport are going to face a hard decision next week, as proposed concessions will be unveiled.

View More News Posts