Deals
DSV Ups Pressure on Panalpina With Sweetened All-Cash Offer
- Panalpina trying to fend off DSV with Agility tie-up talks
- Shares of Swiss target jumps after earlier trading suspension
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DSV A/S sweetened its takeover offer for Panalpina Welttransport Holding AG, now worth $4.3 billion, piling pressure on the Swiss freight forwarder that’s seeking a tie-up with Kuwaiti logistics provider Agility to fend off the Danish approach.
DSV is aware that Panalpina has made public its plans to pursue a “private combination” with Agility and continues to “carefully review the situation,” it said in a statement on Friday. The revised 180-franc all-cash offer was presented on Feb. 6 in response to feedback from Panalpina’s board, including employee safeguards, DSV added.