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Fe 04, 2019 (newstodate): No thanks, says Panalpina to Danish logistics company DSV's offer to buy the company.
-Panalpina's largest shareholder representing approximately 46 percent of the total share capital, informed the Board of Directors that it does not support the current non-binding proposal from DSV and that it supports Panalpina’s Board of Directors in pursuing an independent growth strategy that includes Mergers and Acquisitions, a statement from Panalpina reads.
The response was hardly unexpected and does not necessarily mean a final end to DSV's overtures to Panalpina that may instead raise the stakes in further bids.
-Panalpina's largest shareholder representing approximately 46 percent of the total share capital, informed the Board of Directors that it does not support the current non-binding proposal from DSV and that it supports Panalpina’s Board of Directors in pursuing an independent growth strategy that includes Mergers and Acquisitions, a statement from Panalpina reads.
The response was hardly unexpected and does not necessarily mean a final end to DSV's overtures to Panalpina that may instead raise the stakes in further bids.