FedEx-TNT Deal To Settle May 25 As TNT Shareholders Approve Takeover

By Markets MarketWatch Pulse

FedEx Corp.'s planned $4.8 billion takeover of Dutch parcel company TNT Express NV will settle on May 25, ending a merger process that's been more than a year under way. FedEx said in a statement on Wednesday that 88.4% of all TNT shareholders have accepted the terms of the deal that comes with an offer price of 8 euros per share. FedEx declared the offer for TNT Express "unconditional," meaning it had received enough acceptances from TNT owners for the deal to settle. "We are pleased with the outcome of the public share offer," said David Bronczek, president and CEO of FedEx Express. The tie-up has been under scrutiny from regulators, including a six-month antitrust investigation in the European Union.

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