FedEx Acquires TNT Express
FedEx Acquires TNT Express refers to FedEx's purchase of the Dutch express and parcel carrier TNT Express, completed on May 25, 2016, in a deal valued at about 4.4 billion euros.
What happened and why it matters
The TNT deal gave FedEx a large European road and express network, making it a stronger rival to DHL and UPS for parcels moving within Europe and between Europe and the US. The European Commission cleared the purchase in January 2016, and FedEx completed it on May 25, 2016, after China gave the last regulatory approval. FedEx kept the TNT brand for a time while it merged the two networks, a process that took several years. For US brands selling into Europe, the deal shaped which carriers and rates are available for cross-border ecommerce shipments.
People
Related events
Sources
- FedEx finalizes $4.4 billion deal to acquire TNT Express (CCJ) ccjdigital.com
- FedEx completes takeover of TNT Express (CILT UK) ciltuk.org.uk