DSV bids to acquire Panalpina
DSV has made a $4.1 billion takeover proposal to Panalpina
Jan 17, 2019: Denmark’s DSV has made a $4.1 billion takeover proposal to Swiss-based Panalpina by trying to close the gap on the world’s top three freight transport companies.
A combination of DSV and Panalpina would create a leading global transport and logistics company with significant growth opportunities and potential for value creation. A combination presents a unique opportunity for both companies and their respective stakeholders including shareholders, employees, customers and suppliers.
The indicative proposal will provide Panalpina’s shareholders with a premium of 24 percent to Panalpina’s closing share price of CHF 137.5 as of 11 January 2019. The combined business would generate expected revenues of more than DKK 110 billion. The structure of this offer will allow Panalpina’s shareholders to participate in the benefits of the combination.
DSV has a long and successful track record of partnering with companies, and the combined business will be exceptionally well positioned for future growth.
DSV’s approach to Panalpina comes just months after it failed in an attempt to buy Switzerland’s Ceva Logistics.
