Another hurdle in the FedEx/TNT merger saga has been cleared. FedEx this week received clearance from U.S. authorities that the merger would not violate antitrust laws.
The European Union has yet to sign off on the deal, but both companies have received assurances that the EU antitrust regulators would not raise any objections to the transaction. Antitrust clearance is still needed in several more countries, including China and Brazil.
In late October, the deadline for acceptance of competition clearances was extended to Jan. 8, 2016. FedEx’s offer to buy TNT for US$4.8 billion was announced in April this year. The deal is expected to make the combined FedEx/TNT entity the second-largest logistics firms in Europe behind Deutsche Post DHL.
Like This Post