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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Related articles

Latest news

See all jobs