DSV confirmed that it made “an indicative and private proposal” to the board of directors of Basel, Switzerland-based global 3PL and airfreight forwarder Panalpina to acquire the company.
DSV made these comments in response to Panalpina’s 16 January announcement that it received an unsolicited, non-binding proposal from DSV to acquire the company for an offer of roughly $4bn, which is comprised of a combination of cash and DSV shares.
Panalpina said its Board of Directors is reviewing the proposal in conjunction with its professional advisers, noting “further announcements will be made as appropriate”.