US parcels delivery firm FedEx to buy TNT Express for $4.8bn

  • FedEx, the American parcels delivery company is buying the Dutch firm TNT Express for $4.8 billion in a move to widen its operations in Europe.

    The firms said in a joint statement that the management boards of both companies had reached a “conditional” agreement.

    Two years ago a bid by United Parcel Service to buy TNT did not go through.

    The deal between FedEx and TNT is expected to be completed in the next few months.

    Tagged as: FedEx, US parcels delivery, Dutch firm, TNT Express, Europe, business news