Panalpina’s board of directors confirmed that it has received a revised, non-binding proposal from DSV to acquire the company at a price of CHF180 (USD178.9) per share, all in cash.
Earlier this month, HLPFI reported that Panalpina’s largest shareholder, the Ernst Göhner Foundation, rejected a USD4.1 billion offer from DSV to acquire the Swiss freight forwarder.
Panalpina also responded to media reports and confirmed that it is in early stage discussions with Kuwait-headquartered logistics services provider, Agility, regarding “potential strategic opportunities with regard to their respective logistics businesses”.
