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Flexport to open offices in the UK and Denmark

Rapidly expanding Flexport will open in the UK and Denmark, says the US-based logistics company in an interview with ShippingWatch. Customer base played a big role in deciding the locations.

DSV knew about delicate voting issue at Panalpina

At first glance, it does not make sense that Panalpina's controlling shareholder wants to lift a voting restriction that does not impact itself. But there is likely a very specific reason for the proposal, various sources tell ShippingWatch.

Panalpina's majority shareholder wants to eliminate voting restriction

While DSV is still waiting for a response from Panalpina, the Swiss company's majority shareholder, the Ernst Göhner Foundation, now wants to lift the voting restriction that limits the influence of major shareholders. "This will harm minority shareholders," says one of Panalpina's other major shareholders.

Last week's top stories on ShippingWatch

Maersk stood out last week, with CEO Søren Skou expressing the company's challenges but also called scrubbers "a foolish idea." The Danish climate minister also entered the scrubber debate while DSV dismissed rumors about a merger with Kuehne+Nagel.

Agility CFO: We don't see ourselves as exiting

Agility does not boast about details in terms of plans with Swiss Panalpina, which DSV has offered to acquire for USD 4,3 billion. The company's CFO, Ehad Aziz, emphasizes however, that the Kuwaiti company has no plans to exit the logistics market.

DSV raises its Panalpina offer

DSV has submitted a higher cash offer to buy Panalpina, which the Danish transport and logistics group has been trying to acquire for weeks. The news comes after Panalpina on Friday confirmed preliminary talks with Kuwaiti logistics company.

Panalpina CEO: We are ready to make our own acquisitions

Panalpina sees itself as "a buyer, not a target" in the current acquisition rally among freight forwarders, says CEO of the Swiss logistics company, Stefan Karlen. Despite the DSV bid, Panalpina is ready to take on a larger "transformational" acquisition, he says.

DSV expects more growth in 2019

Transport and logistics group DSV exits 2018 with an operating profit of USD 829 million, and the company expects continued growth in 2019. "We delivered a strong set of results for 2018," says CEO Jens Bjørn Andersen in the annual report.

Ceva expects growth in eventful year

Ceva Logistics, which has both been an acquisition target for DSV and CMA CGM, expects to boost revenue in 2018, which also saw significantly lower debt and an IPO.

"We think DSV's offer is difficult to beat"

The offer from DSV on Panalpina could be hard to turn down, says investment bank Jefferies after DSV's share price has increased and the most obvious rival has withdrawn from the bidding war.

DSV spent many years eyeing Panalpina acquisition

For many years, DSV has had Swiss Panalpina as number one on its acquisition list. The timing is now right as the logistics company is feeling increasing pressure from carriers, says the head of investment to ShippingWatch.

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