FedEx Corp. (FDX) announced Tuesday morning that it has agreed to acquire TNT Express for 8 euros per share, or approximately $4.8 billion.
FedEx gapped open sharply higher Tuesday, but was range-bound throughout the session. The stock closed up by 4.49 at $171.16, with volume at over a 3-month high. FedEx jumped to a 2-week high.
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