Takeover Talk

Market Insight: DSV vs CMA CGM & CEVA – a bidding war in the making

DSV’s last word on CEVA Logistics was on Tuesday, before CMA CGM’s surprising offer emerged today, when the Danish logistics firm indicated it had given up in its pursuit.
“Based on the unwillingness of the board of directors of CEVA to engage directly with DSV at the price per share offered, we have decided not to pursue an acquisition of CEVA.”
But today came another twist, and the mating game became a minefield …

The post Market Insight: DSV vs CMA CGM & CEVA – a bidding war in the making...

https://theloadstar.co.uk/market-insight-dsv-vs-cma-cgm-ceva-bidding-war-making/

With DSV out of the running, are there other suitors for Ceva?

DSV’s withdrawal of its offer for Ceva at CHF30 ($30) per share has again left the consolidation field open.
DSV said it had made a revised proposal, offering Ceva shareholders a premium of 60.4% on Ceva’s share price of CHF18.70 on October 1, or a premium of 45.8% on Ceva’s 60-day volume weighted average price.
But it added: “Based on the unwillingness of the board of directors of Ceva to engage directly with DSV …

The post With DSV out of the running, are there other suitors for Ceva? appeared...

https://theloadstar.co.uk/dsv-running-suitors-ceva/

Container booking platform INTTRA becomes latest takeover for E2Open

Supply chain technology firm E2Open has continued its acquisition spree with the purchase of container booking platform Inttra.
The deal, which Inttra chief executive John Fay told The Loadstar had been under discussion for some time, is expected to create an additional $60m in annual revenue.
E2Open chief executive Mr Farlekas said: “This agreement will be a major boon for customers, with the combination of E2O and Inttra further streamlining the shipping process.
“In particular, it will …

The...

https://theloadstar.co.uk/container-booking-platform-inttra-becomes-latest-takeover-e2open/

FedEx expands its Australian footprint with takeover of Manton Air-Sea

FedEx is targeting more Australian business after acquiring Sydney-headquartered logistics operator Manton Air-Sea.
Pending regulatory approval, the purchase of the forwarder and customs brokerage specialist is expected to be completed before the end of the year.
Chief executive of FedEx Trade Networks Richard Smith said: “Adding Manton will open up opportunities to expand in Australia with [its] strong GDP and significant Asia Pacific market.
“We are delighted to add the Manton team members to...

https://theloadstar.co.uk/fedex-expands-australian-footprint-takeover-manton-air-sea/

Market Insight: CEVA convinced it is on the right course, but DSV may call back

A call with a London-based financial broker closely monitoring the DSV/CEVA situation strengthened my conviction that there is a near-zero chance DSV will improve its initial bid, CHF27.75 a share, immediately rejected by the CEVA Logistics board last week.
A number of my freight forwarding sources believe DSV will return with an improved offer, and quickly; but institutional investors and the brokers working on their behalf believe otherwise.
One told me DSV would …

The post Market Insight:...

https://theloadstar.co.uk/market-insight-ceva-convinced-right-course-dsv-may-call-back/

CMA CGM gradually pushing up its its stake in Ceva Logistics

CMA CGM has increased its holding in Ceva Logistics to 33%, following the latter’s rejection of a takeover bid by DSV last week.
The increase had been expected after Ceva rejected DSV and CMA CGM indicated that it was considering increasing its stake.
Ceva had freed the shipping line from a standstill agreement that limited its maximum holding in the 3PL to 24.99%, and meant it could take it up to 33.3.%.
Under …

The post CMA CGM gradually pushing up its its stake in Ceva Logistics appeared...

https://theloadstar.co.uk/cma-cgm-gradually-pushing-stake-ceva-logistics/

APM Terminals sells its stake in Turkey’s Petlim container terminal

APM Terminals is selling its stake in Turkey’s Petlim container terminal, near Izmir, having reached an agreement with majority shareholder Socar.
The deal continues the terminal operator’s strategy to exit operations in which it does not hold a controlling stake: the past year has seen it sell its stake in a Zeebrugge terminal to Cosco and quit the Brazilian port of Paranagua.
APMT said: “Over the last two years, APM Terminals has contributed to turn …

The post APM Terminals sells its stake in...

https://theloadstar.co.uk/apm-terminals-sells-stake-turkeys-petlim-container-terminal/

Market Insight: CEVA and CMA CGM – vertical consolidation the next step?

Events have overtaken me this week. I began this column with the following:
“The recent appointment of Serge Corbel as the new chief financial officer of CEVA Logistics fuelled speculation that CMA CGM might be ready to snap up the freight forwarding and contract logistics specialist in which the French carrier already owns a near-25% stake.
“What could be going on behind the scenes is just as important as trying to understand …

The post Market Insight: CEVA and CMA CGM – vertical consolidation...

https://theloadstar.co.uk/market-insight-ceva-cma-cgm-vertical-consolidation-next-step/

Geodis still on the hunt for a major acquisition, but not in France, says CEO

Amid all this forwarder M&A news of Ceva and Damco, comes confirmation that Geodis is still in the running for a big acquisition – but Ceva is still off the table.
The French media reports today that Geodis is looking for a company with an annual turnover of between €1.5bn and €2bn, which would give Geodis a stronger presence in Germany and the Netherlands.
CEO Marie-Christine Lombard said Europe must eventually become “our second …

The post Geodis still on the hunt for a major acquisition, but...

https://theloadstar.co.uk/geodis-still-hunt-major-acquisition-not-france-says-ceo/

DSV takeover bid for CEVA Logistics rebuffed, but CMA CGM eyes bigger stake

CEVA Logistics has rejected an unsolicited takeover bid by Danish rival DSV worth around $2.5bn.
DSV confirmed today it had made an offer of CHF27.75 per CEVA share, which is listed on the Swiss stock exchange with a share issue of some 55m.
The offer would value its equity at just over $1.5bn – a figure that goes up to $2.5bn once CEA’s net debt of around $1bn is included. CEVA was IPO’d at CHF27.5 …

The post DSV takeover bid for CEVA Logistics rebuffed, but CMA CGM eyes bigger stake appeared...

https://theloadstar.co.uk/dsv-takeover-bid-ceva-logistics-rebuffed-cma-cgm-eyes-bigger-stake/

+ More