Hello friends and Fortune readers.
U.S. stock futures are trending up this morning. European markets are back at it today after the Easter holiday and are trading higher. Asian indexes closed mostly higher, as well.
Here’s what you need to know to start your day.
1. FedEx buys Dutch logistics company TNT.
FedEx [fortune-stock symbol= »FDX »] will shell out 4.4 billion euros ($4.8 billion) to buy TNT Express, the Netherlands-based package delivery company. FedEx is hoping it can close the deal two years after its bigger rival UPS was blocked from buying TNT by regulators. TNT shareholders will receive 8 euros a share in cash, a 33% premium to the stock’s closing price on April 2 and lower than UPS’s 9.50 euro offer in January 2012. The combination would give FedEx greater reach across Europe, while TNT would have the support to continue its ongoing turnaround strategy.
See FedEx in
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