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FedEx closes deal to acquire 88.4% of TNT Express

FedEx Corp. on May 18 completed its deal to acquire 88.4% of TNT Express NV for a transaction value of €3.74 billion.

The company offered €8 per share for the stake.

In addition to general closing conditions, the deal required additional review for antitrust concerns.

J.P. Morgan Securities LLC was the financial adviser for FedEx, and Baker & McKenzie LLP, NautaDutilh NV and Russell McVeagh were the legal advisers.

Goldman Sachs International and Lazard BV were the financial advisers for TNT Express, while Allen & Overy LLP was the legal adviser.