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DSV secures final approval for UTi Worldwide acquisition

Logistics group DSV has secured final approval and the billion-dollar acquisition of US-based UTi Worldwide can now be completed.

Danish transport and logistics group DSV has been given the final go-ahead for its takeover of US-based competitor UTi Worldwide, informs DSV in a corporate statement. The South African authorities were the last in line to approve the transaction, and this has now been done.

"Upon completion of the transaction, each ordinary share of UTi Worldwide Inc. will be converted into the right to receive a cash payment of USD 7.10, without interest. The transaction is expected to close on 22 January, 2016," says DSV.

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