FEDEX*TO BUY KINKO’S FOR $2.4BIL

NEW YORK (Dec. 30) – FedEx Corp., the world’s largest air-express carrier, Tuesday said it and private equity firm Clayton, Dubilier & Rice Inc. agreed to buy copy center operator Kinko’s for $2.4 billion in cash.FedEx, which is based In Memphis, Tennessee, said the purchase is expected to close in the first quarter of 2004.

Kinko’s operates about 1,200 stores worldwide and estimates about $2 billion of revenue for the year ended Dec. 31.