8-KAcquisitions & DispositionsRegulation FDExhibits & Filings

FEDEX CORP 8-K Report, Acquisition Completed (May 18, 2016)

Filed May 18, 2016For Securities:FDX

Summary

FedEx Corporation (FDX) filed an 8-K on May 18, 2016, to announce the successful completion of its acquisition of TNT Express N.V. The offer, made by FedEx's subsidiary FedEx Acquisition B.V., was declared unconditional after the necessary conditions were met or waived. As of May 13, 2016, a significant majority of TNT Express shares, representing 88.4%, had been tendered for acceptance. This acquisition marks a significant strategic move for FedEx, aiming to expand its global reach and service capabilities, particularly in Europe and Asia. Investors should note that the settlement for tendered shares is scheduled for May 25, 2016, with post-closing acceptance period shares to be settled thereafter. The company has provided a press release detailing this development.

Key Highlights

  • 1FedEx Corporation has successfully completed its acquisition of TNT Express N.V.
  • 2The offer made by FedEx Acquisition B.V. for TNT Express shares has been declared unconditional.
  • 3As of May 13, 2016, 88.4% of TNT Express shares had been tendered.
  • 4Settlement for shares tendered by May 13, 2016, is expected on May 25, 2016.
  • 5The acquisition is expected to enhance FedEx's global network and competitive position.
  • 6A joint press release announcing the unconditional offer status was issued on May 18, 2016.

Frequently Asked Questions

This 8-K filing is to formally announce that FedEx Corporation has successfully completed its acquisition of TNT Express N.V., with the offer having been declared unconditional.

As of May 13, 2016, FedEx had received tenders for 88.4% of TNT Express's ordinary shares and American Depositary Shares.

Settlement for shares tendered on or before May 13, 2016, is scheduled to occur on May 25, 2016. Shares tendered during the post-closing acceptance period will be settled as soon as reasonably possible.

This acquisition is a significant strategic move for FedEx, expected to strengthen its global express delivery network, expand its presence in key international markets (especially Europe and Asia), and enhance its competitive offering.