The TNT Express brand will remain intact following its €4.4bn (£3.4bn) acquisition by FedEx, which was completed this morning.
FedEx’s European HQ, FedEx Europe president and newly appointed TNT CEO David Binks said the company planned to “make appropriate use of the excellent TNT brand for the near future”.
Binks added: “This is an acquisition that assumes we will grow the business. We will work diligently to avoid any significant reductions, either in the Netherlands or globally.”
FedEx first announced its plans to acquire TNT in April last year, but the deal was subject to an investigation from the EC into whether the merged companies would have an unfair market advantage.
Last week the companies issued a joint statement that 88.4% of TNT Express had been tendered during the acceptance period, which ended on 13 May.
Shareholders who haven’t tendered their shares will be able to in a post-closing acceptance period, which will run until 1 June. If FedEx holds 95% of the shares by then, it will buy out the rest of the business.
Speaking in Hoofddorp, the Netherlands, to mark the completion of the deal, FedEx CEO David Bronczek said: “This is a truly historic day. Today, I am thrilled and very proud to announce that we are acquiring TNT Express.
"Together, we will create an even stronger company and deliver more value that either one of us could have done alone.”
