Shareholders in Panalpina, the Swiss freight and logistics group that on Monday surrendered to a $4.6 billion takeover from DSV, get the added benefit of an outsized cut of the raider’s bounty, says LiamWardProud:
Danish freight-forwarding group DSV on April 1 agreed to buy Panalpina in an all-share deal valuing its Swiss target’s equity at 4.6 billion Swiss francs.
Under the offer, Panalpina investors are entitled to 2.375 DSV shares for each share they own. At the Danish group’s closing price on March 29 and at current exchange rates, that implies a price of 195.79 Swiss francs per share. That’s about 43 percent above Panalpina’s share price on Jan. 15, the day before DSV’s first proposal.
Shareholders representing 70 percent of Panalpina have irrevocably agreed to tender their holdings. This includes the Swiss company’s largest investor – the Ernst Goehner Foundation – which has 46 percent of the shares, and activist investor Cevian Capital, with a 12 percent holding.DSV shares were down 1 percent at 544.8 Danish crowns by 0935 BST on April 1. Panalpina shares were up 14.2 percent at 189.4 Swiss francs.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Swiss financial watchdog finds $90 million initial coin offering illegalThe Swiss financial watchdog said on Wednesday the firm behind a $90 million ini...
Baca lebih lajut »
Swiss drugmaker Roche says to shutter Rio de Janeiro plantSwiss drugmaker Roche will close its manufacturing plant in the Brazilian city o...
Baca lebih lajut »
Ericsson says no bounty from Huawei 5G security worriesTelecoms equipment supplier Ericsson is yet to see an increase in contract wins ...
Baca lebih lajut »
What The Ugly Produce Debate Gets Wrong And What It Gets RightDebate about whether the ugly produce movement in fact addresses food waste has raised larger questions about what kinds of solutions are needed.
Baca lebih lajut »
What The Ugly Produce Debate Gets Wrong And What It Gets RightDebate about whether the ugly produce movement in fact addresses food waste has raised larger questions about what kinds of solutions are needed.
Baca lebih lajut »
In trade wars of 200 years ago, the pirates were AmericansAmerica seeks to curtail China's industrial espionage forgetting that its rise to power was a result of similar methods
Baca lebih lajut »
Swiss drugmaker Roche says to shutter Rio de Janeiro plantSwiss drugmaker Roche will close its manufacturing plant in the Brazilian city o...
Baca lebih lajut »
In trade wars of 200 years ago, the pirates were AmericansTimes have changed: In the late 18th and early 19th centuries, Treasury Secretary Alexander Hamilton urged his countrymen to steal trade secrets. Now, the U.S. is accusing China of the same illicit practices. By PaulWisemanAP
Baca lebih lajut »