Friday, June 21, 2024
Panalpina rejects takeover bid from DSV

Panalpina rejects takeover bid from DSV

Panalpina has rejected a takeover bid by DSV after its largest shareholder informed the board of directors that it does not support the proposal.

DSV made an unsolicited and non-binding proposal to acquire Panalpina for 170 Swiss francs per share through a mix of cash and shares on 16 January.

When making the offer, DSV said combining the two companies would create a “leading global transport and logistics company with significant growth opportunities and potential for value creation”.

Panalpina’s largest shareholder, the Ernst Goehner Foundation, which represents 46% of the total capital share told the board of directors it does not support the proposal and it supports the board in pursuing an independent growth strategy that includes mergers and acquisitions.


Stay informed. Stay ahead. To get the latest air cargo news and industry trends delivered directly to your inbox, sign up now!

related articles

American Airlines awards WFS cargo handling contract in Europe to mark Copenhagen launch

Sri Lankan Airlines appoints NAS as GSA in the UK

KlasJet expands partnership with EL AL