On Tuesday, FedEx Corp announced that it is planning to acquire Dutch package delivery firm TNT Express for 4.4 billion euros ($4.8 billion).

The deal came two years after a takeover of TNT by US rival United Parcel Service Inc. (UPS) for nearly $7 billion fell apart due to antitrust issues. FedEx and TNT both said that the all-cash deal had been approved by the Dutch company's board. Under the deal, FedEx will offer 8 euros in cash per ordinary TNT share. This would give the US firm access to TNT's European road network and TNT the access to FedEx's global distribution platform.

The bid is a premium of 33% over TNT's last closing price in Amsterdam on April 2. TNT shares jumped more than 30% in early Tuesday trading towards the offer price. TNT's largest shareholder, PostNL, said it would tender its

In the fourth quarter of 2014, TNT's net loss was of 137 million euros. The company forecasts an operating profit for 2015. However, expects at least 250 million in further restructuring costs over the coming two years.

According to the companies, the deal would transform FedEx's European capabilities and boost global growth. FedEx Chairman and CEO Frederick Smith said the deal would allow the US company to broaden portfolio of international transportation solutions quickly.

This would help it take advantage of market trends, especially in the continuing growth of global e-commerce.

ABN Amro analyst Maarten Bakker, who has a hold rating on TNT shares said, "FedEx has laid on the table an attractive offer price. With FedEx having always been the most logical predator of TNT Express, we see the chances of a competing offer as slim".