News / FedEx nears complete acquisition of TNT as staff mourn cultural change

© Lucian Milasan

FedEx has come one step closer to acquiring TNT with the news that 88.4% of the European express operator’s shares have now been tendered. FedEx must announce whether it declares the offer unconditional or not before Thursday.

The companies believe the transaction will close by June 6, and all the relevant regulatory authorities have now approved the deal.

The transaction could help buoy TNT’s staff, said a source close to the company, who told The Loadstar that morale had dropped since the UPS ...