DSV Panalpina (DSV.C.DX) announced Tuesday it will acquire the logistics arm of Kuwait-based Agility Public Warehousing (AGLT.KW) for $4.1 billion (1.23 billion KWD). The deal will make it the third-largest freight forwarder globally.
Agility’s stand-alone Global Integrated Logistics (GIL) unit is expected to be acquired in an all-stock transaction during the third quarter. DSV plans to issue 19.3 million shares, approximately 8% of its outstanding stock, to fund the deal. The transaction places...
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