joomla counter

A profound moment in express logistics - Wed May 25 2016

Rate this item
(0 votes)

FedEx TNT Express Settlement Date Wed 25 May 2016

Carl Lomas, Institute of Couriers Chair, comments,

There will be no half-day closing for logistics today.’ May 25th – the iconic brands of TNT and Fedex come together. The express logistics sector looks stronger than ever in an exploding marketplace of e-retail as shoppers move from high street to home delivery. Light van registrations up last year by 18% - these are exceptional times of change in the express courier sector. Get your DVD on tonight and load Castaway for Tom Hanks delivery home to the Memphis family.

FedEx president, David Bronczek,

This will be a profound moment in the history of these two great companies.

FedEx TNT Express Settlement Date Wed 25 May 2016

David Bronczek, President and CEO, FedEx Express.

May 25, 2016 will be a profound moment in the history of these two great companies. Together, we will transform the global transportation industry, connecting even more people and possibilities around the world.

Highlights:

·         88.4% of all TNT Express shares tendered and accepted

·         All Offer Conditions have been satisfied or waived

·         Settlement will take place on 25 May 2016

·         Remaining TNT Express Shares can be tendered during the Post-Closing Acceptance Period, commenced 19 May 2016 and ending on 1 June 2016

About FedEx Corp.

FedEx provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $49 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 340,000 team members to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities.

About TNT Express

TNT Express is one of the world’s largest express delivery companies. On a daily basis, TNT Express delivers close to one million consignments ranging from documents and parcels to palletised freight. The company operates road and air transportation networks in Europe, the Middle East and Africa, Asia-Pacific and the Americas. TNT Express made €6.9 billion in revenue in 2015.

Acceptance

In connection with the Offer, 484,982,585 Shares (including Shares represented by American depositary shares) have been tendered during the Acceptance Period that expired on 13 May 2016, representing 88.4% of the aggregate issued and outstanding ordinary share capital of TNT Express, and an aggregate value of €3,879,860,680 (at an Offer Price of €8.00 (eight Euro) in cash per Share). No treasury shares are held by TNT Express.

Read 293 times
IoC