The Board of Directors of Panalpina announced that it has received an unsolicited, non-binding proposal from DSV to acquire the company at a price of CHF 170 per share, comprising a mix of cash and DSV shares.
According to its fiduciary duties, the Board of Directors of Panalpina is reviewing the proposal in conjunction with its professional advisers.
In response to Panalpina's announcement, DSV confirms that it has made an indicative and private proposal to Panalpina's Board of Directors to acquire Panalpina.
The consideration consists of 1.58 DSV shares and CHF 55 in cash for each Panalpina share. Based on closing prices as of 11 January 2019, the value of the offer is CHF 170 per share.
DSV has not yet received a response to its indicative and private proposal from Panalpina’s Board of Directors.
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