FedEx will formally launch its €4.4 billion ($4.9 billion) takeover bid for TNT Express on Aug. 24, offering €8.00 per share for the freight specialist, with the aim of completing the acquisition in the first half of 2016. If the deal succeeds, TNT Express’ European airline operations will be divested due to airline ownership regulations. “Where permitted by regulation, FedEx intends to transition TNT Express’ intercontinental air operations to FedEx,” ...

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