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 Danish logistics company had offered over $4 billion for Panalpina DSV said it would continue to carefully review the situation ... [+]

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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