FedEx completes takeover of TNT Express

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FedEx Boeing 777 Freighter

FedEx has completed its 4.4 billion euro ($4.9 billion) takeover of TNT Express, with integration of the companies to start immediately.

The companies say customers will interact with each company as they always have and once the integration is complete, FedEx says they will benefit from an expanded global offering.

FedEx chairman and chief executive officer, Frederick Smith says: “The timing of this historic event is important, particularly in the current market environment where global e-commerce is growing at double-digit rate. 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.”

Smith adds: “Over our 43 year history, FedEx has repeatedly reinvented and revolutionised the industry, from the first overnight express service backed by a money-back guarantee to the invention of internet shipping.”

“And just as we revolutionised the U.S. domestic parcel business through the acquisition and development of what is now FedEx Ground, the acquisition of TNT will change the way customers view FedEx around the world.”