AMSTERDAM: Fedex agreed to buy TNT for 4.4 billion euros ($4.8 billion), paying for the purchase with debt.
It took Fedex about two years to get its debt leverage ratio back to current levels after it buys TNT Express , Chief Financial Officer Alan Graf said on Tuesday.
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Speaking on a conference call with analysts, Graf said the company plans to “get our credit metrics back to where they are in about 24 months.”
On March 18 Fedex reported its net long term debt stood at $7.23 billion at the end of February. In the same report, it put shareholders’ equity at $16 billion.
