Key points:
- The European Commission granted unconditional clearance for the InPost takeover on 17 August 2026.
- The cash offer is worth €15.60 per share, valuing all InPost shares at approximately €7.8bn.
- FedEx and Advent International are each expected to hold 37% of the consortium, A&BR Investments, controlled by Rafał Brzoska, 16%, and PPF Group 10%.
- The final outstanding regulatory approval is expected from Vietnam’s competition authority.
- The Vietnamese review is due to conclude by 8 September 2026, even though InPost has no operations in the country.
- The offer period has been extended until 18 September 2026.
The transaction was agreed in February 2026. Under the proposal, InPost shareholders would receive €15.60 in cash for each share. That price values all issued shares at roughly €7.8bn. The offer formally opened at the end of May.
The timetable has since been extended. In July, the acceptance period was pushed back from 27 July to 18 September because the European Commission and Vietnam’s competition authority had not completed their reviews by the original deadline.
European Commission clears the deal
On 17 August, the European Commission granted unconditional clearance under merger control rules. InPost and the acquiring entity announced the decision the following day. This leaves the Vietnamese review as the only remaining regulatory approval. InPost says that process should be completed no later than 8 September and stresses that it does not operate in the Vietnamese market.
The European decision does not, by itself, complete the takeover. The offer remains subject to the other conditions set out in the transaction documents, while the acceptance period is scheduled to close on 18 September at 17:40.
FedEx and Advent to hold 37% each
Once completed, InPost is expected to be owned by a consortium of four investors. FedEx and Advent International are each set to hold a 37% stake in the acquiring entity. A&BR Investments, controlled by Rafał Brzoska, is expected to hold 16%, while PPF Group will own 10%.
PPF is expected to sell its existing InPost shares through the offer and reinvest part of the proceeds, giving it a 10% stake in the consortium. A&BR Investments, meanwhile, plans to transfer its current holding into the new ownership structure.
Rafał Brzoska is not exiting the company. Under the agreement, he is expected to remain InPost’s chief executive. The company is also set to retain its brand, headquarters in Poland and existing management structure.
€15.60 per share
The offer is entirely cash-based. Shareholders who accept it are set to receive €15.60 for each InPost share.
The price represents a 50% premium to InPost’s closing share price on 2 January 2026. That date was used as the reference point before news of a possible transaction emerged. Compared with the volume-weighted average share price over the preceding three months, the premium is 53%.
The consortium ultimately intends to acquire 100% of InPost’s shares. The transaction documents set out several possible next steps depending on the level of shareholder acceptance. If the consortium reaches at least 95% of the share capital and voting rights, it can pursue a compulsory acquisition of the remaining shares. A holding of at least 80% but less than 95% could lead to another form of post-offer reorganisation described in the documents.
FedEx targets a larger role in European out-of-home delivery
FedEx’s involvement is particularly significant for the logistics market. After the takeover, FedEx and InPost are expected to remain separate companies and competitors, while planning to enter into commercial agreements on market-based terms.
According to the transaction documents, the proposed cooperation would link FedEx’s global network with InPost’s infrastructure for B2C and out-of-home deliveries. FedEx would gain broader access to InPost’s parcel-locker network and European last-mile operations. InPost, in turn, would be able to draw on FedEx’s international transport network and customs-clearance capabilities. These are plans outlined by the parties, not benefits from an integration that has already taken place.
InPost has previously said it plans to continue expanding in France, Spain, Portugal, Italy, the Benelux countries and the United Kingdom. In a February announcement, the company reported that its parcel volumes had quadrupled between 2020 and 2025.
Vietnam review and offer conditions remain outstanding
The European Commission’s decision removes the most prominent regulatory obstacle, but the transaction has not yet closed. The consortium is still waiting for competition clearance in Vietnam, after which the remaining conditions of the offer must be satisfied.
The current timetable sets 18 September 2026 as the end of the acceptance period. If all conditions are met, InPost could come under the consortium’s control in the second half of 2026, with FedEx and Advent International holding the largest stakes. The original transaction timetable also targeted completion during the second half of 2026.
