FedEx’s $4.8 billion acquisition of Netherlands-based parcel carrier TNT Express still needs approval from China, according to a joint statement from the companies.
FedEx and TNT Express obtained the unconditional approval from Brazil’s Conselho Administrativo de Defesa Econômica for FedEx’s $4.8 billion acquisition of TNT Express, the companies jointly announced today.
However, under Brazilian law, the decision can be appealed within 15 calendar days of its official publication.
The acquisition has already received approval from the U.S. Federal Trade Commission and the European Union, but still needs approval from China.
FedEx and TNT expect the offer will close in the first half of 2016.
FedEx-TNT merger gains regulatory approval from Brazil
