FedEx to acquire TNT Express

FedEx Corporation and TNT Express N.V. have reached a conditional agreement on a recommended all-cash offer for all issued and outstanding ordinary shares, including shares represented by American Depositary Receipts of TNT Express for a cash offer price of €8.00 per share cum dividend except for the TNT Express final 2014 dividend of €0.08 in a transaction valuing TNT Express at an implied equity value of approximately €4.4bn (US$4.8bn). Frederick W. Smith, Chairman and CEO of FedEx Corp., said: “We believe that this strategic acquisition will add significant value for FedEx shareowners, team members and customers around the globe. This transaction allows us to quickly broaden our portfolio of international transportation solutions to take advantage of market trends – especially the continuing growth of global e-commerce – and positions FedEx for greater long-term profitable growth.”