Is TNT still in business?

With the regulatory approval in place, FedEx and TNT Express could finally proceed with the transaction. The two companies worked diligently to close the deal, ensuring that all legal and financial aspects were in order.

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In April 2015, FedEx made a significant announcement regarding its expansion plans. The company revealed its intention to acquire TNT Express for a staggering €4.4 billion. This move was aimed at bolstering FedEx's presence and operations across Europe.

The proposed acquisition did not go unnoticed by regulatory bodies. The European Commission, the executive arm of the European Union, initiated an investigation into the deal. This scrutiny was part of the standard review process to ensure that the transaction did not violate any antitrust laws or regulations.

After a thorough investigation, the European Commission gave its nod to the acquisition. On 8 January 2016, the Commission approved the deal, clearing one of the major hurdles for FedEx in its path to acquiring TNT Express.