Swiss transport group Ceva Logistics rejected an unsolicited takeover approach from Denmark’s DSV, saying on Thursday the 1.53 billion Swiss franc ($1.55 billion) cash bid undervalued the company that went public only in May.
Danish freight forwarder DSV offered 27.75 francs per share for Ceva in cash, a 50 percent premium to the previous close of 18.42 francs, saying it was confident a combination was in the best interests of both companies “by extending our service offering and giving our...
http://container-news.com/ceva-rejects-dsv-takeover-approach/