FedEx announced on Friday that its proposed deal with TNT Express has been approved by the European Commission, according to Reuters.
The deal has been in the works since April 2015 and has FedEx buying TNT for $4.8 billion.
"Following an in-depth investigation opened in July 2015, the Commission has concluded that the acquisition will not give rise to competition concerns, because FedEx and TNT are not particularly close competitors and because the merged entity will continue to face sufficient competition from its rivals in all markets concerned," the European Commission said in a statement, according to the International Business Times.
The approval comes as a surprise to some, as the European Commission denied a similar merger between UPS and TNT two years earlier.
UPS has since filed an appeal with the EU in order to see this decision overturned, according to Bloomberg.
The approval, however, means good things for FedEx, as it will strengthen its European presence and increase competition with its Dutch rival, DHL.
"We are extremely pleased to receive the European Commission's unconditional approval. We believe the combination of TNT Express and FedEx will provide significant value to the employees, customers and shareholders of both companies," said European FedEx Express President David Binks.
