DSV completes Panalpina purchase

DSV has completed its acquisition of fellow forwarder Panalpina, following the settlement of the previously announced public exchange offer for all publicly held shares of Panalpina Kurt Kokhauge Larsen will be chairman of the merged company  and Jens Bjørn Andersen, Jens Lund and Thomas Stig Plenborg will be members of the Panalpina board, giving DSV full control over Panalpina. Chief executive Jens Bjørn Andersen commented: "We are very excited to welcome Panalpina’s ... [+]

Updated: Panalpina snubs DSV bid

Panalpina’s largest shareholder, the Ernst Goehner Foundation, which owns nearly 46 percent of the Swiss forwarder, has rejected an offer from rival DSV. Foundation board member Thomas Gutzwiller said on 4 February that Panalpina would be better served by its consolidator strategy “than the published non-binding purchase offer from DSV”. The ... [+]

DSV makes bid for Panalpina – updated

Danish-owned forwarder DSV says that it has made an indicative and private proposal to acquire fellow Swiss-headquartered Panalpina. It has offered 1.58 DSV shares and CHF 55 in cash for each Panalpina share which, based on closing prices on 11 January, is worth CHF 170 per share, which it says ... [+]

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