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FedEx is Buying TNT Express for 4.4 Billion Euros

(Agence France-Presse)

US delivery service FedEx has reached a deal to buy Dutch rival TNT Express for 4.4 billion euros ($4.8 billion), a joint statement said on Tuesday.

The companies “reached conditional agreement on recommended all-cash public offer of 8.00 (euros) per ordinary TNT Express share,” it said.

“The transaction represents an implied equity value for TNT Express of 4.4 billion” euros.

Related: FedEx Bids $4.8 Billion for TNT Two Years after UPS Blocked by Regulators (Bloomberg)