FedEx Confirms Offer for TNT Express Enters Phase II Review with the European Commission

FedEx Corp.

confirmed today that the European Commission has initiated a Phase II review in connection with FedEx's intended public offer to acquire all the issued and outstanding shares of TNT Express N.V. 

. This is the next step in the process where the European Commission conducts an in-depth analysis under the EU Merger Regulation before coming to a decision. The transaction is also being reviewed by other antitrust agencies, including the Ministry of Commerce (MOFCOM) in China and Conselho Administrativo de Defesa Econômica (CADE) in Brazil. "We will continue to work together with TNT Express to meet the European Commission's need for additional due diligence and are confident that the combination of both companies will increase competition and create