Here is a quick back-and-forth chat with my source Mr Arbitrageur after news emerged on Monday that the Ernst Göhner Foundation, “Panalpina’s largest shareholder representing approximately 46% of the total share capital, informed the board of directors that it does not support the current non-binding proposal from DSV and that it supports Panalpina’s board of directors in pursuing an independent growth strategy that includes M&A.”
“According to its fiduciary duties the board …
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