FedEx gets EU nod for TNT takeover
10-21-2015, 03:04 PM
#1
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FedEx gets EU nod for TNT takeover
FedEx has received an informal notification from the European Commission, effectively clearing its 4.4 billion ($4.9 billion) TNT Express takeover bid.
In August, the European Commission began an in-depth investigation into the tie-up after voicing concerns about the impact on the small package delivery sector.
The internal deadline of the European Commission for issuing a statement of objections would have expired on Oct. 23, 2015, but FedEx and TNT have been informed by the European Commission that no statement of objections will be issued, FedEx and TNT said in a joint statement issued on Oct. 20.
A previous tie-up between TNT Express and US-based United Parcel Service (UPS) fell down on competition clearances. There are currently only four integrators operating in the European Economic Area (EEA), including FedEx and TNT. The other two are DHL, which is owned by Deutsche Post, and UPS.
Shareholders have until Oct. 30 to tender their shares under the 8.00 per share takeover bid; FedEx is aiming to complete the acquisition in the first half of 2016.
FedEx gets EU nod for TNT takeover | Regulation content from ATWOnline
In August, the European Commission began an in-depth investigation into the tie-up after voicing concerns about the impact on the small package delivery sector.
The internal deadline of the European Commission for issuing a statement of objections would have expired on Oct. 23, 2015, but FedEx and TNT have been informed by the European Commission that no statement of objections will be issued, FedEx and TNT said in a joint statement issued on Oct. 20.
A previous tie-up between TNT Express and US-based United Parcel Service (UPS) fell down on competition clearances. There are currently only four integrators operating in the European Economic Area (EEA), including FedEx and TNT. The other two are DHL, which is owned by Deutsche Post, and UPS.
Shareholders have until Oct. 30 to tender their shares under the 8.00 per share takeover bid; FedEx is aiming to complete the acquisition in the first half of 2016.
FedEx gets EU nod for TNT takeover | Regulation content from ATWOnline
10-21-2015, 07:25 PM
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Originally Posted by Raptor
FedEx has received an informal notification from the European Commission, effectively clearing its 4.4 billion ($4.9 billion) TNT Express takeover bid....
FedEx gets EU nod for TNT takeover | Regulation content from ATWOnline
FedEx gets EU nod for TNT takeover | Regulation content from ATWOnline
10-22-2015, 06:26 AM
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Originally Posted by PotatoChip
Will this have any affect on the CGN domicile?
I read somewhere this week that someone (I don't remember who?) was building a brand new cargo facility in Milan?
Will Milan have any affect on the CGN and (TNT) Brussels facilities? Will lower paid TNT pilot fly ALL of the European Cargo?
10-22-2015, 11:44 AM
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Originally Posted by MaydayMark
I read somewhere this week that someone (I don't remember who?) was building a brand new cargo facility in Milan?
Will Milan have any affect on the CGN and (TNT) Brussels facilities? Will lower paid TNT pilot fly ALL of the European Cargo?
Will Milan have any affect on the CGN and (TNT) Brussels facilities? Will lower paid TNT pilot fly ALL of the European Cargo?
10-22-2015, 12:49 PM
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Originally Posted by MaydayMark
Will lower paid TNT pilot fly ALL of the European Cargo?
One thing is for certain, we don't have the pilots or lift to do it ourselves. And considering how this TA could increase retirements next year, there's no way we could hire fast enough to cover the flying.
10-22-2015, 01:22 PM
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Originally Posted by PurpleToolBox
FedEx will have to divest the TNT airline. Airline's in the EU can't be foreign owned. This deal is to close by first half of 2016 (FedEx's fiscal year).
One thing is for certain, we don't have the pilots or lift to do it ourselves. And considering how this TA could increase retirements next year, there's no way we could hire fast enough to cover the flying.
One thing is for certain, we don't have the pilots or lift to do it ourselves. And considering how this TA could increase retirements next year, there's no way we could hire fast enough to cover the flying.
10-22-2015, 01:23 PM
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Originally Posted by PurpleToolBox
FedEx will have to divest the TNT airline. Airline's in the EU can't be foreign owned. This deal is to close by first half of 2016 (FedEx's fiscal year).
One thing is for certain, we don't have the pilots or lift to do it ourselves. And considering how this TA could increase retirements next year, there's no way we could hire fast enough to cover the flying.
One thing is for certain, we don't have the pilots or lift to do it ourselves. And considering how this TA could increase retirements next year, there's no way we could hire fast enough to cover the flying.
10-22-2015, 02:20 PM
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Originally Posted by PotatoChip
Will this have any affect on the CGN domicile?
We have no scope on intra-continent flying. We do have scope on intercontinental flying. Someone please correct me if I'm worn...
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