Deals
DSV to Buy Panalpina in $4.6 Billion European Logistics Deal
- Agreement gets backing from Panalpina’s biggest shareholder
- Logistics industry is highly fragmented and under pressure
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DSV A/S agreed to acquire Swiss rival Panalpina Welttransport Holding AG in a deal worth $4.6 billion that will create one of the world’s largest cargo-handling and logistics companies.
The board of directors of Panalpina recommended shareholders accept the mostly stock offer worth 196 Swiss francs a share, the companies said in a statement on Monday, confirming a Bloomberg report. Panalpina shares jumped as much 16 percent to 192.80 francs, while DSV was up 0.1 percent as of 2:41 p.m. in Copenhagen.