FedEx Corp. on Tuesday said it would buy TNT Express NV for a
cash offer price of EUR8 a share, valuing the Dutch parcel-delivery
firm at about EUR4.4 billion ($4.8 billion).
In a Tuesday statement, FedEx and TNT said the transaction has a
high level of deal certainty. The offer price, the companies said,
represents a premium of 33% over TNT's April 2 share price. In
addition, the offer represents a premium of 42% over the average
volume weighted price per TNT share of EUR5.63 over the last three
calendar months.
The statement said PostNL NV plans to support the offer and
tender its 14.7% shareholding in TNT Express shareholding.
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