US courier delivery giant
FedEx has highlighted its intentions to expand globally with the
purchase of Dutch-based rival TNT Express.
Both companies have
jointly announced that they have reached a conditional agreement on a
recommended all-cash offer for all issued and outstanding ordinary
shares, Including shares Represented by American Depositary Receipts of
TNT Express for a cash offer price of 8:00 euros per share cum dividend
except for the TNT Express final 2014
dividend of 0:08 euros in a transaction valuing TNT Express at in
implied equity value of about 4.4 billion euros or US$4.8 billion.
