Post-closing acceptance period on FedEx/TNT deal ends
The post-closing acceptance period for the FedEx/TNT offer ended yesterday (1 June), leaving FedEx holding 98.45% of all TNT Express shares. Once the statutory buy-out proceedings are completed, FedEx will own 100% of TNT Express.
The statutory buy-out will start during third calendar quarter of 2016.
FedEx announced the completion of its €4.4bn acquisition of TNT Express on 25 May. Not surprisingly, the two integrators believe that the merged entity will “reshape the global transportation and logistics industry”.