European regulators will continue scrutinizing the massive merger to determine if individuals and businesses will be negatively impacted by the tie-up.
FedEx Corp. and TNT Express on Tuesday took issue with recent media reports that the European Commission plans to seek significant concessions from FedEx to allow its proposed $4.8 billion takeover of TNT to go through.
The companies said they have not received any correspondence from European Union regulators stating any objections to the tie-up, and that they still expect the deal to close in the first half of next year.
Memphis-Tenn.-based FedEx made its offer for TNT in April.
In July, the European Commission launched a full-scale investigation into whether the merger conforms with EU competition guidelines. At the time it, expressed concern that the combination of two global package delivery companies would leave some European markets without sufficient competition from UPS and DHL, possibly leading to higher prices for consumers and businesses.
The Commission’s preliminary investigation suggested the market concentration of three major couriers with road and air networks on the continent would inhibit competition.
The EC nixed a mega-deal between UPS and TNT two years ago when it sought divestitures that UPS was unwilling to make.
FedEx is a smaller player in Europe than UPS and many analysts believe the union with TNT is positive for consumers because it allows for three major competitors, as well as smaller regional couriers, and provides TNT with long-term stability at a time when it has been shrinking to remain profitable.
FedEx-TNT Express deal still on track
