U.S. courier delivery company FedEx on Tuesday highlighted its intentions to expand globally by announcing a planned purchase of Dutch-based rival TNT Express.



The deal is an all-cash public offer that values the European company at $4.8 billion and conditionally means that shares of TNT Express would be offered at 8 euros ($8.68) each. The offer is being priced at a 33 percent premium compared to its current value, according to a joint press release, with both firms anticipating that the deal would close in the first half of 2016.

It would also mean the combined European headquarters of the two firms would be in Amsterdam and FedEx stated in the press release that new debt arrangements would help fund the agreement. Shares of TNT Express popped 30 percent at the open on Tuesday.

The tie-up would "transform" its European capabilities and accelerate global growth and allow its customers to enjoy access to an enhanced global network.