Market sources close the Sfr4bn takeover of Panalpina (PAN) by DSV have said that the board of directors of the Swiss 3PL are set to formally reject the Danish company’s initial proposal, which was offered at Sfr170 a share.
“DSV has already offered significantly more than Sfr170 a share, looking to pay Sfr200-plus a share, but it’s not about the money.
“There is emotional attachment to the PAN story, and for DSV, well …

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Source: The Loadstar