Intended Offer by FedEx for TNT Express Enters Phase II Review with the European Commission
July 31 2015 - 10:43AM
Business Wire
FedEx remains on track with its intended public
offer to acquire TNT Express N.V. as the European Commission
initiates a Phase II review
FedEx Corp. (NYSE: FDX) confirmed today that the European
Commission has initiated a Phase II review in connection with
FedEx’s intended public offer to acquire all the issued and
outstanding shares of TNT Express N.V. This is the next step
in the process where the European Commission conducts an in-depth
analysis under the EU Merger Regulation before coming to a
decision. The transaction is also being reviewed by other antitrust
agencies, including the Ministry of Commerce (MOFCOM) in China and
Conselho Administrativo de Defesa Econômica (CADE) in Brazil.
“We will continue to work together with TNT Express to meet the
European Commission’s need for additional due diligence and are
confident that the combination of both companies will increase
competition and create benefits for customers,” said David Binks,
President, FedEx Express - Europe. “We continue to make progress on
all of the necessary regulatory steps around the world that would
allow us to complete this transaction in the first half of 2016 and
unite two great teams that share a passion for customer
service.”
On June 26, 2015, FedEx started the formal process to obtain
merger control approval from the European Commission by submitting
the required filing to obtain regulatory clearance in connection
with its intended offer to acquire TNT Express. FedEx has also
submitted a request for review and approval of its Offer Document
with the Netherlands Authority for the Financial Markets (Stichting
Autoriteit Financiële Markten, AFM) on June 26, 2015 as required
under Dutch law. Based on the required steps and subject to the
necessary approvals, closing of the offer is anticipated in the
first half of 2016.
This is a press release by FedEx in connection with the intended
public offer by FedEx Corporation for all the issued and
outstanding ordinary shares in the capital of TNT Express N.V. This
announcement does not constitute an offer, or any solicitation of
any offer, to buy or subscribe for any securities in TNT Express
N.V. Any offer will be made only by means of an offer document.
This announcement is not for release, publication or distribution,
in whole or in part, in or into, directly or indirectly,
Canada.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses
worldwide with a broad portfolio of transportation, e-commerce and
business services. With annual revenues of $47 billion, the company
offers integrated business applications through operating companies
competing collectively and managed collaboratively, under the
respected FedEx brand. Consistently ranked among the world’s most
admired and trusted employers, FedEx inspires its more than 325,000
team members to remain “absolutely, positively” focused on safety,
the highest ethical and professional standards and the needs of
their customers and communities.
For more information, please visit www.fedex.com.
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FedEx Corp.Media:Patrick Fitzgerald,
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Foster, 901-818-7468mickey.foster@fedex.comorCitigate First
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