The FINANCIAL — FedEx Corp., FedEx Acquisition B.V. (the Offeror) and TNT Express N.V. (TNTEY.PK) jointly confirmed, in response to recent media coverage, that to date they have not received a Statement of Objections from the European Commission, according to Nasdaq.
The internal deadline of the European Commission for issuing a Statement of Objections would have expired on 23 October 2015, but FedEx and TNT have been informed by the European Commission that no Statement of Objections will be issued. FedEx and TNT continue to expect that the Offer will close in the first half of calendar year 2016.
In April 2015, U.S. logistics giant FedEx Corp. and European peer TNT Express N.V. said they reached an agreement for FedEx to buy TNT for an all-cash public offer of 8 euros per TNT share. The transaction represented an implied equity value of 4.4 billion euros or $4.8 billion for TNT Express.