newstodate.aero
Apr 01, 2019 (newstodate): In matchmaking, never take NO for an answer, Danish leading logistics company DSV can confirm.
By the start of this year, DSV put forward an unsolicited, nonbinding proposal to acquire the Swiss company Panalpina aiming at creating a leading global transport and logistics company with significant growth opportunities and potential for value creation.
The offer was, however, turned down by Panalpina's shareholders one month later.
-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, newstodate commented at the time.
Now, this has turned real..
-DSV and Panalpina have reached an agreement on the terms and conditions of a combination by way of a Public Exchange Offer to all Panalpina shareholders, today's press statement from DSV reads.
-If the offer is successful, DSV and Panalpina will become one of the world’s largest transport and logistics companies with a pro-forma revenue of approximately DKK 118 billion and a workforce of more than 60,000 employees operating in 90 countries.
If the deal goes through, the new merger will carry thge name of DSV Panalpina AS.
Today, the Panalpina Group operates a global network with some 500 offices employing some 14,000 people in around 70 countries, and it works with partner companies in another 100 countries.
Structured in three divisions Road, Air&Sea and Solutions, DSV has offices in more than 80 countries employing 45,000 people and collaborating with partners and agents worldwide.
By the start of this year, DSV put forward an unsolicited, nonbinding proposal to acquire the Swiss company Panalpina aiming at creating a leading global transport and logistics company with significant growth opportunities and potential for value creation.
The offer was, however, turned down by Panalpina's shareholders one month later.
-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, newstodate commented at the time.
Now, this has turned real..
-DSV and Panalpina have reached an agreement on the terms and conditions of a combination by way of a Public Exchange Offer to all Panalpina shareholders, today's press statement from DSV reads.
-If the offer is successful, DSV and Panalpina will become one of the world’s largest transport and logistics companies with a pro-forma revenue of approximately DKK 118 billion and a workforce of more than 60,000 employees operating in 90 countries.
If the deal goes through, the new merger will carry thge name of DSV Panalpina AS.
Today, the Panalpina Group operates a global network with some 500 offices employing some 14,000 people in around 70 countries, and it works with partner companies in another 100 countries.
Structured in three divisions Road, Air&Sea and Solutions, DSV has offices in more than 80 countries employing 45,000 people and collaborating with partners and agents worldwide.