English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

FedEx TNT deal "could take up to one year"

PRESS RELEASE

May 01, 2015: FedEx and TNT Express have released an update on the intended acquisition by FedEx of the Dutch company.

Pursuant to the provisions of Section 7, paragraph 1 sub a of the Decree requiring a public announcement within four weeks following the announcement of an intended public offer to provide a status update, FedEx and TNT Express provide the following joint update:

FedEx and TNT Express confirm that the companies are making timely progress on the preparations for the Offer. FedEx expects to submit a request for review and approval of its Offer Document with the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten, AFM) in any event before June 30, 2015, which is the date by which under Dutch law a request for approval must be submitted to the AFM.

In addition, FedEx and TNT Express confirm that the process to obtain the required regulatory merger control approvals for the Offer is proceeding without delays. The Offer will be conditional upon FedEx obtaining the required competition clearances in the European Union, China, Brazil and, to the extent applicable, the United States of America. FedEx and TNT Express remain confident that substantive anti-trust concerns, if any, can be addressed adequately and in a timely fashion.

Although FedEx and TNT Express aim to obtain the required regulatory clearances as soon as possible, it is noted that completing the formal clearance procedures could take up to one year. As such, it may be required to obtain an exemption from the AFM to (further) extend the offer period.

More News

Written on 28/03/2017, 19:24
ups-adds-more-destinations-to-china-europe-rail-serviceATLANTA: March 28, 2017. As ocean capacity gets tight between Asia and Europe, UPS has announced the addition of six destinations to its full and...
Written on 27/03/2017, 19:52
dsv-tests-abattoir-biofuelMALMO, Sweden: March 27, 2017. DSV Sweden is testing a Mercedes-Benz hybrid truck that runs on both electricity and a new HVO 100 biofuel - made from...
Written on 27/03/2017, 19:23
aar-wins-usaf-logistics-contractWOOD DALE, IL: March 27, 2017. – Global aftermarket supplier AAR has won a US$909.4 million contract to manage the repair, maintenance and logistics of...
Written on 24/03/2017, 21:15
hapag-lloyd-hit-by-low-freight-ratesHAMBURG: March 24, 2017. Hapag-Lloyd reported a net loss of €93.1 million in 2016 on revenue that fell 12.5 percent from the previous year to reach €7.73...
Written on 23/03/2017, 19:40
new-grow-box-technology-from-maerskTINGLEV, Denmark: March 23, 2017. Maersk Container Industry (MCI) has launched Star Cool CA+, an extension of its controlled atmosphere (CA) technology,...
Written on 23/03/2017, 17:04
emirates-responds-to-u-s-laptop-banDUBAI: March 23, 2017. Emirates Airline has responded swiftly to the U.S. ban on laptops and tablets via its passenger flights from Dubai with a free...
Written on 22/03/2017, 20:44
flying-eye-hospital-arrives-in-dohaDOHA: March 22, 2017. Qatar Airways has welcomed the arrival of the Orbis Flying Eye Hospital from the UK where the non-profit organization had earlier...
Written on 21/03/2017, 21:12
fedex-to-launch-round-the-world-from-liegeMEMPHIS, TN: March 21, 2017. Next month FedEx is to begin a B777 freighter flight from Liège, Belgium to Memphis as part of a round-the-world service...
Written on 16/03/2017, 20:20
k-n-acquires-two-pharma-logistics-companiesSCHINDELLEGI, Switzerland: March 16, 2017. Kuehne + Nagel is to acquire two specialist logistics companies in Turkey and Italy to expand its good...
Written on 15/03/2017, 17:52
panalpina-expands-circular-economy-centerDUBAI: March 15, 2017. Panalpina has officially opened its 40,000 square meter logistics manufacturing center in Dubai Logistics City, part of the bonded...
Written on 15/03/2017, 17:12
coyote-logistics-opens-in-guadalajara-mexicoCHICAGO: March 14, 2017. UPS 3PL subsidiary Coyote Logistics has opened a new office in metropolitan Guadalajara, Mexico to develop transborder truckload,...
Written on 15/03/2017, 15:20
auto-traffic-switches-from-road-to-railKIRCHHEIM/TECK, Germany: March 15, 2017. After a five-year hiatus, automobile logistics specialist Mosolf Group is re-introducing a weekly rail link...
Written on 14/03/2017, 19:47
unisys-offers-pay-for-use-air-cargo-managementLONDON: March 14, 2017. Unisys has launched 'Digistics' - described by the company as an "integrated cargo logistics solution" for carriers to streamline...
Written on 14/03/2017, 17:03
mercator-introduces-ice-in-abu-dhabiABU DHABI: March 14, 2017. IT solutions provider Mercator, majority-owned by Warburg Pincus Investments, has launched what it says is the air cargo...
Written on 14/03/2017, 15:59
unilode-wins-saudi-arabian-airlines-contractABU DHABI: March 14, 2017. Unilode, the ULD management company formerly known as CHEP, has won a major outsource contract from Saudia and Saudia Cargo to...
Written on 13/03/2017, 15:37
2016-revenue-increase-for-turkish-cargoISTANBUL: March 13, 2017. Turkish Airlines has reported a six percent rise in air cargo revenue in 2016 to US$996 million. Some US$600 million was...
Written on 10/03/2017, 21:49
nec-to-develop-visibility-platform-for-pandemic-responseTOKYO: March 09, 2017. The U.N. World Food Programme (WFP) and NEC Corporation are to develop the first supply chain visibility platform for pandemic...
Written on 10/03/2017, 20:21
airbus-helps-south-sudan-refugeesTOULOUSE: March 09, 2017. The Airbus Foundation has used an A330 test aircraft to carry 17 tonnes of aid equipment from the UK to Uganda for refugees...
Written on 09/03/2017, 22:32
the-alliance-sets-up-post-hanjin-insurance-planHAMBURG: March 09, 2017. On April 01 'THE Alliance' of Hapag- Lloyd, 'K'Line, MOL, NYK and Yang Ming, will launch 32 liner services to 75 major ports on...
Written on 09/03/2017, 16:35
another-quarter-decline-in-airline-profitsGENEVA: March 09, 2017: IATA says a drop in profits for its member airlines that began in Q3 2016 continued into the last quarter, despite margins...

- powered by Quickchilli.com -