FedEx to buy TNT Express for €4.4bn
FedEx
The Hague - Arab Today
US delivery service FedEx has reached a deal to buy Dutch rival TNT Express for 4.4 billion euros (4.8 billion dollars), 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.
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