FedEx’s €4.4bn (£3.4bn) takeover of TNT Express is set to complete later this month, just over a year since the parcel giants announced the deal. In a joint statement today, the businesses said 88.4% of TNT Express’s shares had been tendered during the acceptance period that ended on 13 May. FedEx will pay the offer price on 25 May. FedEx said shareholders who have not yet tendered their shares will have the opportunity to in a post-closing acceptance period, which will […]
TNT Express is to restructure its finance and admin functions in a move that will see it cut 237 data entry, administrative, supervisory and clerical roles.
TNT Express has said it hopes to see a “positive impact” from its profit improvement plan in the second half of 2013, after reporting a 26% drop in first quarter EMEA (Europe, Middle East and Africa) operating profit.
FedEx said it “remains confident” about its proposed takeover of TNT Express despite the European Commission launching what it termed an “in-depth investigation” into the planned acquisition.