CMA CGM set for Ceva stake of almost 90%

According to a report by Reuters, CMA CGM now controls almost 90% of the voting rights in Ceva Logistics.

This follows a public tender offer from French shipping group of SFr30 per share. Reuters said this offer values Ceva at SFr1.67bn ($1.66bn) – a price that has been agreed after a takeover bid from Denmark’s DSV was rejected in October.

Reuters said an additional acceptance period is to run from March 20 to April 2.

As for developments at DSV, once a Ceva suitor, Capital Group Companies has increased its shares in the transportation service provider to 5.04% of the total share capital and voting rights.

DSV has itself been looking at a takeover of Panalpina, recently increasing its offer by 10 SFr to SFr180 per share.

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