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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| PostNL NV | EU:PNL | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.015 | 1.09% | 1.388 | 1.387 | 1.388 | 1.40 | 1.376 | 1.391 | 292,270 | 10:17:57 |
From Jul 2019 to Jul 2024
By WSJ Staff
FedEx Corp. on Tuesday said it would buy Dutch parcel-delivery firm TNT Express NV for about EUR4.4 billion ($4.8 billion) to expand in Europe.
FedEx and TNT said the all-cash deal had a high level certainty, had been approved by the Dutch company's board and that the EUR8 a share offer price represents a premium of 33% over TNT's share price on April 2.
The companies said the combination would transform FedEx's European capabilities and accelerate global growth. They also said they were confident that any antitrust concerns can be addressed adequately in a timely fashion.
The deal comes two years after an anticipated takeover of TNT by U.S. rival United Parcel Service Inc. fell apart because of antitrust issues, and as the Dutch company struggles to compete with larger rivals, including FedEx.
FedEx Chairman and CEO Frederick Smith said the deal would allow the U.S. company to "quickly broaden our portfolio of international transportation solutions to take advantage of market trends--especially the continuing growth of global e-commerce.
The statement said PostNL NV, which has a 14.7% stake in TNT, plans to support the offer.
Access Investor Kit for TNT Express NV
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=NL0009739424
Access Investor Kit for FedEx Corp.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US31428X1063
Access Investor Kit for TNT Express NV
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US87262N1090
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