FedEx launches bid for TNT Express

FedEx is offering 8 euros per TNT share, which is 33% more than the closing price of 1 April and even 42% more than the average stock market value of the past three calendar months. The offer expires during the first half of 2016. The merger combines TNT Express’ strong European network with FedEx’s strong presence in the rest of the world, particularly in North America and Asia.