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VOL. 131 | NO. 99 | Wednesday, May 18, 2016

FedEx Acquisition of TNT Express to Close May 25

By Madeline Faber

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FedEx Corp.’s $4.8 billion takeover of Dutch shipping company TNT Express will close May 25.

The logistics companies jointly announced Wednesday, May 18, that 88.4 percent of TNT shareholders have accepted the offer, which comes in at 8 euros (around $9 U.S.) in cash per share.

The majority’s approval renders the deal unconditional.

“May 25, 2016, will be a profound moment in the history of these two great companies. Together, we will transform the global transportation industry, connecting even more people and possibilities around the world,” said FedEx Express president and CEO David Bronczek in a statement.

The acquisition will cap an approval process that took over a well over a year. The companies had to gain approvals from regulatory bodies in the European Union, Brazil, China and the U.S.

One of the biggest hurdles was clearing an antitrust investigation leveraged by the European Union.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 68 162 2,781
MORTGAGES 60 97 1,880
FORECLOSURE NOTICES 14 37 312
BUILDING PERMITS 148 769 6,470
BANKRUPTCIES 61 172 1,149
BUSINESS LICENSES 28 96 587
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0