FedEx to buy TNT in €4.4 billion deal

American parcel deliverer FedEx plans to buy its Dutch counterpart TNT Express, the companies announced in a joint press release. FedEx offered 4.4 billion euros for TNT. The transaction is supported by both TNT's Executive Board and Supervisory Board. Post NL, which holds 14.7 percent of TNT's share, also supports the offer. In addition to financial side of the offer, the two companies also agreed on other matters, such as FedEx respecting TNT's existing employment terms. The European regional headquarters will be located in Amsterdam. The companies expect that the deal will close in the first half of next year.