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Brazil: FedEx gets green light for TNT merger

By  |  March 30, 2016

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.

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

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