Tennessee-based Fedex and Dutch counterpart TNT Express have won US antitrust permission to merge, according to a listing of approved deals the Federal Trade Commission issued on Tuesday.
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.
The companies announced in April that Fedex would buy TNT for $4.8 billion in order to better compete in Europe. The deal should catapult FedEx to second place in Europe behind Deutsche Post’s DHL.
Full content: Reuters
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