The Federal Express-TNT merger appears on track as European antitrust regulators said Monday that they will rule by Aug. 3 whether to clear the way for FedEx’s $4.9 billion bid for TNT Express, reported Reuters.
TNT has an extensive road network in Europe, which is expected to marry well with FedEx’s strong air network. The added road connections would put FedEx in a better position to compete with UPS and Deutsche Post.
The European Commission’s preliminary review takes 25 working days and can be extended by another 10 days in the event that concessions are offered to counter regulatory concern.