FedEx to buy Dutch package delivery firm for $4.8B

FedEx Corp. announced it will buy Dutch package delivery firm TNT Express for 4.4 billion euros ($4.8 billion), aiming to take on bigger rivals UPS and Deutsche Post in Europe.

According to Reuters, UPS tried to buy TNT in 2013, but European regulators blocked the attempt saying it would stifle competition.

Conversely, FedEx, with its strong air fleet, would complement TNT's road network, analysts say.

Read more from Reuters.