FedEx Corp. and Netherlands-based TNT Express announced a conditional agreement for the U.S. company to buy the package, freight and logistics operator for $4.8 billion.

FedEx Corporation will acquire Dutch delivery giant TNT Express for $4.8 billion in an all-cash deal that will vastly expand the American company's operations across Europe, FedEx revealed on Tuesday.

Dutch delivery group TNT Express <TNTE.AS> swung to a second-quarter operating loss of 280 million euros (241 million pounds) because of goodwill impairments and said the rest of the year would ...