The Presidential Daily Brief

important

  1. FedEx Set to Purchase TNT Express

    They’re looking to blast the competition. FedEx is set to buy the struggling European delivery service for $4.8 billion, or $8.76 a share — 33 percent higher than the Dutch firm’s closing price last Thursday. While it reportedly hadn’t been seeking the buyout, TNT has struggled since European regulators halted a $5.7 billion takeover bid by UPS in 2013 and hailed the deal as “good news for all stakeholders.” For the American courier giant, meanwhile, it’s a way to spark growth in the European marketplace.

    FT (sub)

This story is part of The Presidential Daily Brief

view full edition