FedEx Acquires TNT Express

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LAGOS (Sundiata Post) – FedEx Corporation (FedEx) has acquired TNT Express N.V. (TNT Express) in a worth €4.4 billion. The acquisition which combines the strengths of the companies – the world’s largest air express network and an unparalleled European road network, is expected to existing FedEx portfolio and reshape the global and logistics industry.

“This acquisition is a significant accomplishment and marks the beginning of a new era, filled with promise for people, customers and shareowners,” said Frederick W. Smith, Chairman and CEO of FedEx. “We are proud to celebrate the joining of two iconic companies and the approximately 400,000 team members who are committed to serving customers around the world.

“The timing of this historic event is important, particularly in the current environment where global e-commerce is growing at double-digit rates,” Smith added. “Adding TNT’s capabilities to our existing world-class suite of services, including GENCO and the recently relaunched FedEx CrossBorder, will further expand the ability of FedEx to support business connections around the world.

A peep into FedEx show that with annual revenues of $49 billion (not including TNT Express), the company integrated business applications through operating companies competing collectively and managed collaboratively, under the FedEx brand.