Chinese authorities clear FedEx-TNT deal

FedEx Corp. and Dutch delivery firm TNT Express said Friday that Chinese authorities have unconditionally approved Memphis-based FedEx's proposed $4.8 billion acquisition of TNT Express, clearing the deal's last regulatory hurdle.

The proposed deal is expected to close by midmonth, the companies said in a statement.

The proposed transaction has already been approved by authorities in the European Union and Brazil.