US delivery service FedEx has reached a deal to buy Dutch rival TNT Express for 4.4 billion euros (4.8 billion dollars), a joint statement said on Tuesday.
The companies "reached conditional agreement on recommended all-cash public offer of 8.00 (euros) per ordinary TNT Express share," it said.
"The transaction represents an implied equity value for TNT Express of 4.4 billion" euros.
Zee News App: Read latest news of India and world, bollywood news, business updates, cricket scores, etc. Download the Zee news app now to keep up with daily breaking news and live news event coverage.
