Extract from M&A Insights

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Ceva Logistics rejects Danish bidder DSV's USD 1.55bn approach
October 12, 2018

Swiss transport group Ceva Logistics rejected an unsolicited takeover approach from Denmark’s DSV, saying on Thursday the 1.53bn Swiss franc (USD 1.55bn) cash bid undervalued the company that went public only in May. Danish freight forwarder DSV offered 27.75 francs per share for Ceva in cash, a 50 percent premium to the previous close of 18.42 francs. DSV, which is ready to make acquisitions again after its USD 1.35bn purchase of California-based UTi, declined to comment on whether it would return with a higher offer for Ceva.

ⓘ This story was originally featured in our daily M&A Insights newsletter.
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