Panalpina’s largest shareholder, the Ernst Göhner Foundation, has rejected DSV’s USD4.1 billion offer to acquire the Swiss freight forwarder.
The Ernst Göhner Foundation, which holds approximately 46 percent of Panalpina’s total share capital, informed the board of directors that it does not support the current non-binding proposal from DSV.
Panalpina’s largest shareholder added that it supports the board of directors in pursuing an independent growth strategy that includes mergers and acquisitions.
A statement from Panalpina added: “According to its fiduciary duties the board of directors of Panalpina continues to carefully review the situation with its professional advisers. Further announcements will be made as appropriate.”
