DSV, 734 - DSV A/S’ CONTACT WITH PANALPINA WELTTRANSPORTHOLDING AG
16 Enero 2019 - 01:44AM
DSV, 734 - DSV A/S’ CONTACT WITH PANALPINA WELTTRANSPORTHOLDING AG
Company Announcement No. 734
In response to Panalpina Welttransport Holding AG’s
(“Panalpina”) announcement today, we can confirm that DSV 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.
We have not yet received a response to our indicative and
private proposal from Panalpina’s Board of Directors.
A combination of DSV and Panalpina would create a leading global
transport and logistics company with significant growth
opportunities and potential for value creation. A combination
presents a unique opportunity for both companies and their
respective stakeholders including shareholders, employees,
customers and suppliers.
The indicative proposal will provide Panalpina’s shareholders
with a premium of 24% to Panalpina’s closing share price of CHF
137.5 as of 11 January 2019 and 31% to the 60-day VWAP of CHF 129.5
as of 11 January 2019.
The combined business would generate expected revenues of more
than DKK 110bn and EBITDA of more than DKK 7bn on a pro-forma 2018
basis (excluding any synergy benefits). The structure of our offer
will allow Panalpina’s shareholders to participate in the benefits
of the combination.
DSV has a long and successful track record of partnering with
companies, and the combined business will be exceptionally well
positioned for future growth.
Inquiries may be addressed to Executive Vice President, Investor
Relations, Flemming Ole Nielsen, tel. +45 43 20 33 92.
Yours sincerely,DSV A/S
- 734 - Announcement (16.01.2019) - Contact with Panalpina
Welttransport Holding AG