The European Commission has given the American company Fedex the Green light to take over its Dutch competitor TNT. The transaction can go ahead with no conditions attached, the Commission said on Friday.
Fedex and TNT still have to get permission from competition authorities in China and Brazil, among others. The take-over should be done and dusted by the end of the first semester of this year.
Fedex is offering 8 euros per TNT share, which means the company is worth 4.4 billion euros.