A PYMNTS Company

Brazil: FedEx gets green light for TNT merger

By  |  March 30, 2016
Brazil: FedEx gets green light for TNT merger

FedEx Corporation has gained approval from Brazil’s anti-trust authorities as the Conselho Administrativo de Defesa Econômica has rejected a third-party appeal filed by United Parcel Service over the takeover. The CADE has cleared FedEx for an all cash $4.8 billion takeover bid for TNT. The takeover will incorporate all issued, and outstanding shares of TNT including American depository receipts as well.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    FedEx has already obtained regulatory approval from anti-trust bodies in the EU, and the US while it is still in pursuit of a similar green signal from authorities in China. The consolidation requires obtaining competition approval from all relevant anti-trust bodies in all four countries and regions named above. FedEx and TNT Express NV – ADR have assured that they are progressing in a timely manner towards the consolidation, and that they expect the takeover to go through in the first half of 2016.

    Full content: Business Wire

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.