Memphis-based FedEx gets OK to buy TNT Express

Memphis-based FedEx gets OK to buy TNT Express

November 25th, 2015 by Staff and Wire reports in Business Around the Region

Memphis-based Fedex Corp gained approval Tuesday from U.S. antitrust regulators for its purchase of Dutch counterpart TNT Express, according to a listing of approved deals the Federal Trade Commission issued on Tuesday.

Reuters reported Tuesday that the European Union has yet to sign off on the proposed transaction, although the companies have said they received assurances that EU antitrust regulators would allow it to go forward.

The companies announced in April that Fedex would buy TNT for $4.8 billion in order to better compete in Europe. The deal should put FedEx in second place in Europe behind only Deutsche Post's DHL.