FedEx to buy TNT Express for $4.8bn

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U.S. courier delivery company FedEx has highlighted its intentions to expand globally with the purchase of Dutch-based rival TNT Express on Tuesday morning.

The deal is a all-cash public offer that values the European company at $4.8 billion and conditionally means that shares of TNT Express would be offered at 8 euros each.

It would also mean the combined European headquarters of the two firms would be in Amsterdam, the Netherlands, and Fedex stated in the press release that new debt arrangements would help fund the agreement.

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