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Fedex, TNT have U.S. approval to merge

Staff writer |
Fedex and TNT Express have won U.S. antitrust permission to merge, according to a listing of approved deals the Federal Trade Commission (FTC).

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The companies announced in April that that Fedex would buy TNT for 4.4 billion euros ($4.8 billion) in order to better compete in Europe. The deal should catapult FedEx to second place in Europe behind Deutsche Post's DHL.

The European Union has yet to sign off on the proposed transaction, although the companies have said they received assurances that EU antitrust regulators would allow it to go forward.


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