PARCELS delivery firm TNT Express is set for a takeover by rival FedEx after the Dutch firm backed an offer worth £3.2 billion.

The two companies want to combine TNT’s European road operations, which include a Bradford base, and FedEx’s strength in other regions such as North America and Asia.

TNT Express employs more than 65,000 people and has 2,300 depots, with about 8,500 staff employed in the UK at headquarters in Warwickshire and at 54 depots across the country.

It is the second time in recent years that TNT Express has been a takeover target for a US firm after UPS attempted a deal in 2012 which fell through when it became clear European regulators were ready to block the move.

TNT dates back to 1946 when Ken Thomas started his own transport business in Australia with one truck and has been Dutch-owned since 1996. TNT Express was created in 2011 following its separation from TNT Post.

Tex Gunning ,TNT chief executive, said “While we did not solicit an acquisition, we truly believe that FedEx’s proposal, both from a financial and a non-financial view, is good news for all stakeholders.”

Details of the latest consolidation moves in the European parcels sector boosted Royal Mail shares.