CADE Rejects Third Party Appeal Of Approval Of FedEx-TNT Express Deal

(RTTNews) - FedEx Corporation (FDX), FedEx Acquisition B.V. or the Offeror and TNT Express N.V. announced that Conselho Administrativo de Defesa Econômica or CADE has rejected the third party appeal of the unconditional approval of FedEx Intended Acquisition of TNT Express.

On January 8, 2016, FedEx and TNT Express announced that the Acceptance Period for the Offer has been extended until two weeks following the satisfaction or waiver of the Offer Condition with respect to Competition Clearances.

The Offer Condition regarding Competition Clearances relates to obtaining competition approval from the relevant antitrust authorities in the EU, Brazil, China and the United States of America.

FedEx and TNT Express have obtained unconditional competition approval in the EU, Brazil and the United States of America and continue to work constructively with regulatory authorities to obtain clearance of the transaction in the remaining relevant jurisdictions, including China.

FedEx and TNT Express are making timely progress and continue to anticipate that the Offer will close in the first half of calendar year 2016.