FedEx acquires key competitor TNT Express, reshaping the global transport and logistics industry.
FedEx acquires key competitor TNT Express, reshaping the global transport and logistics industry. KLAUS ANDORFER

FedEx acquires TNT Express in €4.4 billion deal

  • FedEx acquired competitor TNT Express for €4.4 billion
  • FedEex has settled TNT express shares tendered in acceptance period
  • Remaining shares can still be tendered in post-closing acceptance period

FedEx has acquired TNT Express in a €4.4 billion deal, further expanding the portfolio of the world's largest air express network and enhancing its European reach.

TNT Express was a European rival of FedEx and the companies said in a joint statement that the deal will reshape the global transportation and logistics industry.

"This acquisition is a significant accomplishment and marks the beginning of a new era, filled with promise for our people, customers and shareowners," said Frederick W. Smith, Chairman and CEO of FedEx.

"We are proud to celebrate the joining of two iconic companies and the approximately 400,000 team members who are committed to serving customers around the world.

"The timing of this historic event is important, particularly in the current market environment where global e-commerce is growing at double-digit rates.

"Adding TNT's capabilities to our existing world-class suite of services, including GENCO and the recently relaunched FedEx CrossBorder, will further expand the ability of FedEx to support business connections around the world.

"Over our 43 year history, FedEx has repeatedly reinvented and revolutionized the industry, from the first overnight express service backed by a money-back guarantee to the invention of internet shipping. And just as we revolutionized the U.S. domestic parcel business through the acquisition and development of what is now FedEx Ground, the acquisition of TNT will change the way customers view FedEx around the world," Smith continued.

"We believe that this strategic acquisition will add significant value for FedEx shareowners, team members and customers around the globe, particularly in Europe where we will establish a strong new competitor," said Alan B. Graf, Jr., FedEx Executive Vice President and Chief Financial Officer. "The TNT team members bring 70 years of diverse experience, which combined with that of FedEx team members, will make this integration a success."

The integration process following the acquisition is set to begin immediately and the joint statement highlighted the FedEx track record of successful acquisition integrations in the U.S. and globally.

In the near term, customers can expect to interact with each company as they always have and receive the world-class service they have come to expect.

Once the integration is complete, FedEx expects customers to enjoy an expanded global offering that draws upon the breadth of expertise from both companies.

Together, FedEx and TNT Express will continue to make a difference in the lives of people around the world, further supporting the communities in which team members live and work, connecting even more people and possibilities.

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