The intended FedEx Takeover of TNT Express.
FedEx, the large American delivery company immortalised in Castaway is in touching distance of closing the deal on purchasing TNT Express, this has to be agreed first, where previously a UPS buy out bid was stopped.
The takeover is an all cash buyout totalling in the region of $4.8B or around £3.2B.
So why has FedEx shown such a great interest in TNT Express? Essentially, to increase their presence in Europe. This is one place where FedEx is lacking compared to their rival UPS.
FedEx is predominantly known as a US delivery company with it’s main competitor being UPS, UPS did try to buy TNT two years ago for £4.2B , however when that failed, blocked for fear of monopoly reasons TNT slashed around 4000 jobs.