M&A Archives - The Loadstar Making sense of the supply chain Tue, 05 Nov 2024 12:02:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 31889032 Law firm urges shareholders to join probe into ATSG sale to Stonepeak https://theloadstar.com/law-firm-urges-shareholders-to-join-probe-into-atsg-sale-to-stonepeak/ https://theloadstar.com/law-firm-urges-shareholders-to-join-probe-into-atsg-sale-to-stonepeak/#respond Tue, 05 Nov 2024 12:02:00 +0000 https://theloadstar.com/?p=284302 ATSG shareholders are being encouraged to join an investigation into whether the proposed sale of the group to investor Stonepeak is fair. 
On the announcement of the deal yesterday, which would see shareholders receive $22.50 per share – a premium of about 29.3% on Friday’s closing share price, and a 45.5% premium on the volume-weighted average price – investor rights law firm Halper Sadeh urged shareholders to join it to investigate ...

The post Law firm urges shareholders to join probe into ATSG sale to Stonepeak appeared first on The Loadstar.

]]> https://theloadstar.com/law-firm-urges-shareholders-to-join-probe-into-atsg-sale-to-stonepeak/feed/ 0 284302 ATSG set to be acquired by Stonepeak https://theloadstar.com/atsg-set-to-be-acquired-by-stonepeak/ https://theloadstar.com/atsg-set-to-be-acquired-by-stonepeak/#respond Mon, 04 Nov 2024 12:59:32 +0000 https://theloadstar.com/?p=284188 ATSG could follow in the footsteps of rival Atlas Air and delist, following news that it is to be acquired. 
Reuters has reported that investor Stonepeak is in “advanced” talks to buy the airline and leasing group for some $3.1bn, including debt, or $22.50 per share. 
ATSG is due to report third-quarter earnings on Friday, but its Q2 results saw a pre-tax loss of $7m after fewer aircraft leases. Stonepeak last year ...

The post ATSG set to be acquired by Stonepeak appeared first on The Loadstar.

]]> https://theloadstar.com/atsg-set-to-be-acquired-by-stonepeak/feed/ 0 284188 ‘Strong’ Q3 for Maersk as it prepares for alliance launch – but no bid for GXO https://theloadstar.com/strong-q3-for-maersk-as-it-prepares-for-alliance-launch-but-no-bid-for-gxo/ https://theloadstar.com/strong-q3-for-maersk-as-it-prepares-for-alliance-launch-but-no-bid-for-gxo/#respond Thu, 31 Oct 2024 13:31:07 +0000 https://theloadstar.com/?p=283938 Maersk has ruled out bidding for GXO, as it revealed strong Q3 earnings this morning. It also predicted little to no disruption for customers as it rolls out the Gemini network next year.
The group finished the quarter (see charts below for more detail) with ebitda of $4.8bn and ebit of $3.3bn, “which on a year-to-date basis, puts us more or less on the same level as last year”, said CEO ...

The post ‘Strong’ Q3 for Maersk as it prepares for alliance launch – but no bid for GXO appeared first on The Loadstar.

]]> https://theloadstar.com/strong-q3-for-maersk-as-it-prepares-for-alliance-launch-but-no-bid-for-gxo/feed/ 0 283938 Bahri still on lookout for large forwarder M&A targets https://theloadstar.com/bahri-still-on-lookout-for-large-forwarder-ma-targets/ https://theloadstar.com/bahri-still-on-lookout-for-large-forwarder-ma-targets/#respond Tue, 29 Oct 2024 11:59:58 +0000 https://theloadstar.com/?p=283659 Bahri, the national shipping company of Saudi Arabia, may have been thwarted in its attempt to buy DB Schenker – but it’s still on the lookout for M&A targets.
Sources told ION Analytics Bahri was looking at overseas expansion and was particularly interested in asset-light companies, like freight forwarders, with annual revenue of at least €1bn. It is prepared to pay between €1bn and €3bn for full ownership – although, reportedly, would ...

The post Bahri still on lookout for large forwarder M&A targets appeared first on The Loadstar.

]]> https://theloadstar.com/bahri-still-on-lookout-for-large-forwarder-ma-targets/feed/ 0 283659 South Korean state tightens control of HMM amid privatisation questions https://theloadstar.com/south-korean-state-tightens-control-of-hmm-amid-privatisation-questions/ https://theloadstar.com/south-korean-state-tightens-control-of-hmm-amid-privatisation-questions/#respond Thu, 24 Oct 2024 10:46:39 +0000 https://theloadstar.com/?p=283379 Korea Development Bank (KDB) and Korea Ocean Business Corp (KOBC) on Tuesday increased their stake in South Korea’s flagship box line, HMM, to 67.05%, after both state-controlled financial institutions exchanged KRW660bn ($478.25m) of convertible bonds for more shares.
The conversion increases their holding from 418.79m shares to nearly 551m.
The South Korean state’s elevated interest in HMM coincides with mixed signals on whether it intends to relinquish control over the carrier.
HMM came ...

The post South Korean state tightens control of HMM amid privatisation questions appeared first on The Loadstar.

]]> https://theloadstar.com/south-korean-state-tightens-control-of-hmm-amid-privatisation-questions/feed/ 0 283379 Deutsche Bahn supervisory board approves DSV bid for DB Schenker https://theloadstar.com/deutsche-bahn-supervisory-board-approves-dsv-bid-for-db-schenker/ https://theloadstar.com/deutsche-bahn-supervisory-board-approves-dsv-bid-for-db-schenker/#respond Wed, 02 Oct 2024 12:35:19 +0000 https://theloadstar.com/?p=281790 Deutsche Bahn’s supervisory board, in an extraordinary meeting, has approved the sale of DB Schenker to DSV.
In a statement just issued, the rail company added that the German federal government had also approved the transaction, expected to complete some time next year after all regulatory approvals have been obtained.
Including the “expected interest income until closing”, the total sale value could be up to €14.8bn ($16.37bn).
“The sale of DB Schenker marks ...

The post Deutsche Bahn supervisory board approves DSV bid for DB Schenker appeared first on The Loadstar.

]]> https://theloadstar.com/deutsche-bahn-supervisory-board-approves-dsv-bid-for-db-schenker/feed/ 0 281790 CVC questions DB Schenker sale process after offering to raise its bid https://theloadstar.com/cvc-questions-fairness-of-db-schenker-sales-process-after-offering-to-raise-its-bid/ https://theloadstar.com/cvc-questions-fairness-of-db-schenker-sales-process-after-offering-to-raise-its-bid/#respond Thu, 19 Sep 2024 09:26:13 +0000 https://theloadstar.com/?p=280658 After a last-ditch attempt by CVC to overturn DSV’s successful bid for DB Schenker by offering more money failed, the consortium has questioned the fairness of the sales process. 
However, Schenker owner Deutsche Bahn has asserted it was conducted in a “transparent, open and non-discriminatory manner in accordance with EU law.” 
While CVC declined to comment, a well-placed source told The Loadstar that, in a letter to DB’s supervisory and management board on Tuesday, ...

The post CVC questions DB Schenker sale process after offering to raise its bid appeared first on The Loadstar.

]]> https://theloadstar.com/cvc-questions-fairness-of-db-schenker-sales-process-after-offering-to-raise-its-bid/feed/ 0 280658 DSV and Deutsche Bahn agree €14.3bn sale of DB Schenker https://theloadstar.com/dsv-and-deutsche-bahn-agree-14-8bn-sale-of-db-schenker/ https://theloadstar.com/dsv-and-deutsche-bahn-agree-14-8bn-sale-of-db-schenker/#respond Fri, 13 Sep 2024 09:38:48 +0000 https://theloadstar.com/?p=280215 Finally putting an end to all the media leaks, this morning Deutsche Bahn (DB) and DSV announced they have agreed a deal for the purchase of DB Schenker  – subject to DB’s supervisory board approval.
DB’s board has signed a deal which will give DB Schenker an enterprise value of €14.3bn, which, with interest before closing, will be a total sales value of €14.8bn. All sale proceeds will go to DB, ...

The post DSV and Deutsche Bahn agree €14.3bn sale of DB Schenker appeared first on The Loadstar.

]]> https://theloadstar.com/dsv-and-deutsche-bahn-agree-14-8bn-sale-of-db-schenker/feed/ 0 280215 DSV likely to win DB Schenker fight as staff query union job loss calculations https://theloadstar.com/dsv-likely-to-win-db-schenker-fight-as-staff-query-union-job-loss-calculations/ https://theloadstar.com/dsv-likely-to-win-db-schenker-fight-as-staff-query-union-job-loss-calculations/#respond Thu, 12 Sep 2024 12:13:03 +0000 https://theloadstar.com/?p=280166 The behind-the-scenes PR war between DSV and CVC Capital for DB Schenker looks set to come to a close, following a report that DSV is the preferred bidder.
The bid still must be approved by Deutsche Bahn’s supervisory board, which is thought to be on 18 September.
While some observers believe the deal will be rubber-stamped, DSV stock still stood up only +7% around midday thanks to the news, still below consensus ...

The post DSV likely to win DB Schenker fight as staff query union job loss calculations appeared first on The Loadstar.

]]> https://theloadstar.com/dsv-likely-to-win-db-schenker-fight-as-staff-query-union-job-loss-calculations/feed/ 0 280166 CVC sets out benefits of its ‘superior’ offer for Schenker in letter to DB https://theloadstar.com/cvc-sets-out-benefits-of-its-superior-offer-for-schenker-in-letter-to-db/ https://theloadstar.com/cvc-sets-out-benefits-of-its-superior-offer-for-schenker-in-letter-to-db/#respond Tue, 10 Sep 2024 12:24:28 +0000 https://theloadstar.com/?p=279983 CVC Capital Partners, which is leading a consortium to acquire DB Schenker, yesterday sent a letter to Deutsche Bahn’s management and supervisory boards setting out the benefits of its proposed ‘alternative’ offer, which would see DB reinvest €1bn to keep a stake of up to 24.9% in the logistics firm, according to a well-placed source.
CVC has now guaranteed that Deutsche Bahn would generate €2bn to €2.5bn of proceeds from the ...

The post CVC sets out benefits of its ‘superior’ offer for Schenker in letter to DB appeared first on The Loadstar.

]]> https://theloadstar.com/cvc-sets-out-benefits-of-its-superior-offer-for-schenker-in-letter-to-db/feed/ 0 279983