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FedEx to acquire Dutch firm TNT Express for $4.8 billion

FedEx Corp. has agreed to take over Dutch delivery company TNT Express for $4.8 billion, bolstering its global business with an acquisition that rival UPS had attempted — but failed — to complete two years ago. FedEx said Tuesday that it had reached a conditional agreement with TNT Express' management on an all-cash offer of $8.75 per TNT share. That represents a premium of 33% over the company's closing price before the deal was announced. The deal is expected to close in the first half of 2016, pending shareholder approval. Dutch postal company PostNL, which owns a 14.7% stake in TNT Express, said it supports the bid. The deal comes two years after United Parcel...

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