UPDATED: Panalpina’s major shareholder says no to DSV takeover offer

Panalpina’s largest shareholder does not support the unsolicited SFr170 per share takeover bid by Danish logistics giant DSV that values the Switzerland logistics giant $4bn.
The Ernst Göhner Foundation, with 46% of the total share capital in Panalpina, has informed the forwarder’s board of directors that “it does not support the current non-binding proposal from DSV,” adding that it backs the Panalpina board “in pursuing an independent growth strategy that includes mergers and acquisitions (M&A)”.
A statement from Panalpina said: “According to its fiduciary duties the Board of Directors of Panalpina continues to carefully review the situation with its professional advisers.
“Further announcements will be made as appropriate”.
DSV said it would continue to carefully review the situation. “Further announcements will be made as appropriate,” it added.

Share this story

Related Topics

Latest freight forwarder news

Scan Global Logistics plans for further acquisitions

Fast-growing Scan Global Logistics said it is planning to make more acquisitions with a focus on growing in key markets….

Read More

Share this story

Korean Air connects with DHL through APIs

DHL Global Forwarding is continuing to add direct connections to its airline partner’s booking systems, this time integrating with Korean…

Read More

Share this story

More than 20 parties interested in buying DB Schenker

Deutsche Bahn (DB) yesterday provided an update on its plan to sell DB Schenker during the announcement of its full-year…

Read More

Share this story

Air Cargo News

Air Cargo News
Established in 1983, Air Cargo News is the leading source of news, information, interviews, analyses and reports to the global airfreight industry. Our leading portfolio includes print, digital and events that give businesses in the airfreight industry the ability to connect with decision-makers in this sector.