The Latest on Amazon’s $1.4 Billion deal with FedEx

Amazon is closing on a $1 billion deal to sell its warehouse logistics business to FedEx.

The company says the deal includes an option to acquire FedEx, which has been in talks with Amazon for several months.

The deal will make Amazon one of the largest logistics providers in the U.S. Amazon announced the deal at the New York Stock Exchange Wednesday morning.

Amazon will acquire FedEx for about $9 billion in cash and stock, with FedEx retaining ownership of about 30 percent of the business.

Amazon will keep its current 50 percent stake in FedEx.