Belfast Telegraph

FedEx is to take over delivery firm TNT in £3.2bn deal

By Graeme Evans

Delivery firm TNT Express is set for a takeover by rival FedEx after the Dutch firm backed an offer worth €4.4bn (£3.2bn).

The two companies want to combine TNT's European road operations and FedEx's strength in other regions such as North America and Asia.

TNT Express employs more than 65,000 people and has 2,300 depots - including a base in Crumlin - with about 8,500 staff employed in the UK at headquarters at Atherstone in Warwickshire and at 54 branches across the country.

And delivery giant FedEx also set up a depot in Carrickfergus back in 2011.

The latest takeover bid is the second time in recent years that TNT Express has been a target for a US firm after UPS attempted a deal in 2012.

Royal Mail shares rose by 2% as a result of the latest consolidation moves in the European parcels sector.

TNT Express was created after its separation from TNT Post.

Belfast Telegraph