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FedEx to buy struggling TNT for 4.4b euros

Published Tue, Apr 7, 2015 · 09:50 PM
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Geneva

FEDEX Corp agreed to buy struggling Dutch logistics company TNT Express NV for 4.4 billion euros (S$6.5 billion) to expand package deliveries in Europe.

TNT shareholders will receive eight euros a share in cash, 33 per cent more than the closing price on April 2, the most recent trading day, the companies said in a joint statement on Tuesday.

KEYWORDS IN THIS ARTICLE

Logistics
DHL

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