Danish company corroborates its offer to acquire Panalpina for roughly $4 billion
Switzerland-based global 3PL and airfreight forwarded Panalpina, in a recent press communiqué confirmed that it had received an unsolicited, non-binding proposal from Hedehusene, Denmark-based global 3PL DSV, to acquire the company for an offer of approximately US$ 4.0 billion in a combination of cash and DSV shares.
It added that according to its fiduciary duties, the Board of Directors of Panalpina is reviewing the proposal in conjunction with its professional advisers.
‘A combination of DSV and Panalpina would create a leading global transport and logistics company with significant growth opportunities and potential for value creation,’ DSV said in a statement. ‘A combination presents a unique opportunity for both companies and their respective stakeholders including shareholders, employees, customers and suppliers,’ the statement continued.
DSV’s interest in acquiring Panalpina comes around three months after it made a US$ 1.5billion bid for CEVA Logistics.
DSV has been active on the M&A trail in the past, having acquired US-based UTi Wordwide in October 2015.
