TNT tenders shares as next step in takeover by FedEx
16 / 05 / 2016
TNT Express has tendered 88.4% of its shares for acceptance as part of its proposed takeover by FedEx.
The Netherlands-based express firm will announce whether shareholders have unconditionally accepted the offer by no later than May 19.
The move comes after China gave its approval for the FedEx-TNT deal in late April.
With one of the last remaining hurdles to the deal surmounted, the two express companies said that the offer condition with respect to competition clearances has now been fulfilled.