TNT Express NV, the Dutch logistics company being taken over by FedEx Corp., said third-quarter profit fell because of economic turmoil in markets such as Brazil, China and Australia. Adjusted operating income in the period was probably "materially lower" than last year, TNT said in a statement prior to an extraordinary shareholder meeting at its headquarters in Hoofddorp on Monday. Profit margins in France also declined "substantially", the company said. The shares fell as much as 2 percent. Chief Executive Officer Tex Gunning is meeting with shareholders today to seek approval for an 8 euro-per-share bid by FedEx, after United Parcel Service Inc. dropped an offer of EUR 9.50 in 2013 because of antitrust opposition by the European Commission. The European Union's executive arm announced an in-depth probe into the FedEx bid in July, arguing the combined company may cut competition in the market for small packages, which could lead to higher prices.