FedEx to buy struggling TNT for 4.4b euros
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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.
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