FedEx holds 98.45% TNT Express shares

According to logistics website Post and Parcel: “The post-closing acceptance period for the FedEx/TNT offer ended yesterday (1 June), leaving FedEx holding 98.45% of all TNT Express shares”.

Once the statutory buy-out proceedings are completed, FedEx will own 100% of TNT Express. The statutory buy-out will start during third calendar quarter of 2016. FedEx announced the completion of its €4.4bn acquisition of TNT Express on 25 May. Not surprisingly, the two integrators believe that the merged entity will “reshape the global transportation and logistics industry”.

Read the story on postandparcel.info