In TNT, FedEx may get last major package target UPS once sought - Reuters
FedEx Corp's $4.8 billion bid Tuesday for TNT Express took the world's last large potential package delivery acquisition target off the table, marking a victory in FedEx's battle to gain market share from rival United Parcel Service Inc.
If FedEx wins regulatory approval for the proposed acquisition, it would pull into the No. 2 spot among package delivery services in Europe with a 17 percent market share. That would put it ahead of UPS in Europe, but leave Deutsche Post's DHL with the lead at 19 percent of the market.
FedEx Corp's $4.8 billion bid Tuesday for TNT Express took the world's last large potential package delivery acquisition target off the table, marking a victory in FedEx's battle to gain market share from rival United Parcel Service Inc.
If FedEx wins regulatory approval for the proposed acquisition, it would pull into the No. 2 spot among package delivery services in Europe with a 17 percent market share. That would put it ahead of UPS in Europe, but leave Deutsche Post's DHL with the lead at 19 percent of the market.
