Thursday 8th Dec 2016 - Logistics Manager

FedEx extends TNT offer period to January

FedEx has extended the acceptance period for its TNT share offer to 8th January 2016.

It said the period has been extended because not all offer conditions, in particular those relating to competition clearances, were fulfilled before expiry of the initial acceptance period which closed on 30th October.

The offer is conditional on obtaining competition approval from the relevant antitrust authorities in the EU, Brazil, China and, to the extent applicable, the United States of America.

Last month the European Commission indicated that it would not object to the deal.

FedEx and TNT Express anticipate making a filing in the US before the end of the calendar year.