There is consolidation underway in the delivery business, and European giant TNT is being bought by FedEx, the American offering a 33% premium in a buy-out priced lower than one proposed back in 2013.<br /><br /> US rival UPS tried and failed two years ago to buy the Dutch concern but EU competition regulators nixed the merger. The pair have agreed a 4.41 billion euro deal that analysts say should not hit the same regulatory hurdle.<br /><br /> TNT has been losing market share despite cutting costs, selling operations and investing in its road network in a struggle to hold on to customers in a weak European market.
