Print Edition - 2019-01-17 | MONEY
Danish freight firm DSV makes $4 billion play for Panalpina
- news digest
Jan 17, 2019-
Denmark’s DSV has made a $4.1 billion takeover approach to Swiss rival Panalpina to try to close the gap on the world’s top three freight transport companies. Shares in Panalpina, which has come under pressure from an activist investor to do a deal, jumped as much as 31 percent to an 11 year high of 179.3 Swiss francs on Wednesday - above DSV’s proposal and signalling investors expect a higher offer. Logistics companies are looking to build scale in a fragmented freight transport market. DSV’s approach to Panalpina comes just months after it failed in an attempt to buy Switzerland’s Ceva Logistics. Panalpina said it had received a non-binding proposal of 170 Swiss francs per share.
Published: 17-01-2019 11:38