FedEx has said it is making “timely progress” with its plans make an offer for 100% of Dutch integrator TNT Express, although it may need more time from Dutch authorities.
The $4.9 billion offer, which was announced in April, requires competition clearances from various bodies in Brazil, China, the European Union, the Netherlands and the US.
Although the competition approval process is “proceeding without delays,” FedEx warned that the formal clearances could take up to a year. “As such, it may be required to obtain an exemption from the AFM to extend the offer period,” the companies said. FedEx still plans to submit an offer document to AFM before June 30, which is the deadline under Dutch law.
Full content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
