30 October 2015/Categories: Industry News
FedEx and TNT do not expect the European Commission (EC) to attempt to block their proposed €4.4 billion (£3.16 billion) takeover agreement, which was made in April.
A joint statement issued by the two firms noted that the EC's internal deadline for issuing a Statement of Objections expired on October 23rd.
Both companies were informed by the EC that no such statement will be issued, leaving both expecting the offer to close in the first half of 2016.
EC objections were the most likely stumbling block for the deal, as a separate bid for TNT from UPS in 2012 was blocked by the Commission.
In 2014, FedEx had sales of some $45.6 billion (£29.57 billion), while TNT Express has sales of €6.5 billion - a combined total of approximately £35.9 billion.
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