FedEx and TNT Express jointly announced this morning that they have obtained the unconditional approval of the European Commission in connection with FedEx's €4.4 billion offer for the Dutch company.
After its investigation, the European Commission has concluded that the deal does not raise any competition concerns, they said in a joint press release.
“We are extremely pleased to receive the European Commission’s unconditional approval,” said David Binks, Regional President Europe, FedEx Express. “We believe the combination of TNT Express and FedEx will provide significant value to the employees, customers and shareholders of both companies.”
FedEx and TNT Express said they will continue to work constructively with the regulatory authorities to obtain clearance of the transaction in the remaining jurisdictions, including Brazil and China.
FedEx and TNT Express added that they are making timely progress and continue to anticipate that the offer will close in the first half of calendar year 2016.
