Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
2/2/2016 5:00:00 PM Write a Letter to the Editor Write a letter to the Editor

FedEx, TNT Win Brazilian Approval for Merger

FedEx's $4.8 billion takeover of TNT Express has cleared another hurdle, winning unconditional approval from authorities in Brazil, the companies said Feb. 2.

The approval leaves a short list of countries, including China, where the companies are still pursuing clearance.

The deal is expected to close in the first half of 2016 and make FedEx a larger player in the European parcel delivery market. The European Union approved the deal in January and the companies have continued to seek competitive clearance in other countries in TNT's network.

“We are very pleased with the unconditional approval from the Brazilian regulatory authority,” said David Bronczek, president and CEO of FedEx Express. “Once the acquisition is closed, we look forward to the opportunities it will bring to our employees, customers and shareholders in Latin America and across the globe.”

By Wayne Risher
The (Memphis, Tenn.) Commercial Appeal

 

Distributed by Tribune Content Agency, LLC.



Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2016, Transport Topics, American Trucking Associations Inc.
Reproduction, redistribution, display or rebroadcast by any means without written permission is prohibited.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement