FedEx buys Dutch rival TNT Express

FedEx Corporation (FedEx) is to take over Dutch package delivery firm, TNT Express N.V. (TNT Express). The €4.4 billion deal is meant to help boost the US-based delivery company’s presence in Europe.

This was released in a joint statement by both companies last week. FedEx already operates an air-express delivery service in Europe but lags behind in the ground-delivery business. According to the statement, acquiring TNT will give FedEx direct access to the vast road network in Europe. FedEx Chief Executive, Fred Smith, said: “Europe, despite the fact that there has been low growth, is still an enormous market both for import and export.”

The joint statement highlights new prospects and promises high quality training as well as international career opportunities. Expanding to a global network would make the combined companies a strong competitor in the global transportation and logistics business.

The deal is expected to close next year.

C. Maiko Schnelle