FedEx offer to buy TNT Express gets OK from Brazil regulators

FedEx clears a hurdle in its offer to buy TNT Express.

A FedEx offer to purchase TNT Express recently received approval from Brazil regulator Conselho Administrativo de Defesa Economica (CADE).

The European Union and the U.S. recently gave unconditional approval to the offer.

“We are very pleased with the unconditional approval from the Brazilian regulatory authority,” FedEx Express President and CEO David Bronczek said. “Once the acquisition is closed, we look forward to the opportunities it will bring to our employees, customers and shareholders in Latin America and across the globe.”

The acceptance period for the offer started on Jan. 8, and the decision can be appealed within 15 days under Brazilian law.

FedEx and TNT Express expect the offer to be fully closed by the first half of 2016.

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