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Indiaexportnews.com

Danish supply chain giant DSV exits CEVA bidding after offer rejected

  31.10.2018    

Danish supply chain giant DSV will not seek to acquire CEVA Logistics after the company's "revised private proposal" was rejected, reported London's Air Cargo News.
The second offer of CHF30 (US$30.01) a share by DSV would have provided CEVA shareholders with a premium of 60.4 per cent to CEVA share price of CHF18.70 as of October 1.
DSV's first offer of CHF27.75 per CEVA share would have valued the Switzerland-based company at $1.5 billion.
"Based on the unwillingness of the Board of Directors of CEVA to engage directly with DSV at the price per share offered, we have decided not to pursue an acquisition of CEVA,?said DSV.



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