How does the Volatility of shipping containers hold cargo at FedEx Memphis World Hub. By Wayne Risher of The Commercial Appeal FedEx said Friday that the biggest acquisition in the company’s 43-year history has cleared its final regulatory hurdle, after the deal received approval from Chinese officials.The Memphis-based parcel delivery service said the $4.8 billion acquisition of Europe's third-largest delivery company entered the home stretch with approval by Ministry of Commerce People's Republic of China.
FedEx Ground competes head-to-head against UPS and consistently delivers FedEx’s highest profit margins.Officials said owning a ground delivery company in Europe was expected to translate into lower operating costs and an improved ability to transport cross-border shipments, particularly in the burgeoning e-commerce area.
Executives with FedEx, the area’s largest employer, expect to close on the $4.9 billion purchase of Netherlands-based TNT Express in the first quarter of 2016. The acquisition will position FedEx as one of Europe’s largest parcel haulers.
“As we work towards closing the acquisition, we look forward to welcoming TNT Express team members to the FedEx family of companies as we expand our portfolio of solutions and connect even more people and possibilities," Bronczek said.Regulatory approvals cleared the way for TNT Express stockholders to tender their shares. TNT shareholders voted in favor of the deal last fall.