FedEx expects its proposed $4.8 billion purchase of TNT Express to expand its European market, after regulators blocked UPS from buying the Netherlands-based delivery service in 2013.

The Tennessee-based corporation’s plan is not expected to raise antitrust concerns because of the “strengths of competitors in relevant markets,” according to the companies’ April 7 statement. FedEx plans to divest TNT Express’ airline operations to mitigate potential antitrust concerns. Where permitted by regulation, TNT Express’ intercontinental air operations will be transitioned to FedEx.

The all-cash public offer represents a 33 percent premium over TNT Express’ April 2 closing price. The purchase is expected to close by July 2016.

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