Panalpina has confirmed that DSV has made a revised takeover bid for the business – increasing the offer to CHF180 per share from CHF170.
The new offer is all cash – the previous offer of a mix of cash and shares was rejected by Panalpina’s biggest shareholder, The Ernst Göhner Foundation, which holds some 46 per cent of Panalpina’s total share capital.
DSV said the new offer was made in response to feedback from Panalpina and included “certain commitments to be specified towards Panalpina’s employees and the Panalpina heritage”.
Panalpina has also confirmed that it is in discussions with Agility Group on potential strategic opportunities, although it said the discussions are at a preliminary stage.
