|Bid||226.40 x 0|
|Ask||226.80 x 0|
|Day's Range||223.40 - 227.60|
|52 Week Range||110.80 - 232.40|
|Beta (3Y Monthly)||1.58|
|PE Ratio (TTM)||66.84|
|Earnings Date||Jul 18, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||132.53|
LONDON/LOS ANGELES, June 25 (Reuters) - U.S. furniture company RC Willey Home Furnishings is so concerned that new global clean air rules will cause transport disruption that it brought forward the shipment of arm chairs and sofas from China by two months. The tougher regulations, set by the United Nations shipping agency, the International Maritime Organization (IMO), come into force on Jan 1. For shipping companies it is the biggest shakeup in decades and adds to the pressures of an economic slowdown and the threat of an escalating trade war between the United States and China.
The global air freight market struggled during the first three months of the year as a slowing trade environment took a toll. Declines in air volumes were reported by DHL, Kuehne + Nagel, Expeditors International and C.H. Robinson Worldwide Inc. (NASDAQ: CHRW). DHL attributed its declines to a combination of "selective stance" and strong market levels in the previous year.
Danish freight forwarder DSV has reported further revenue and profit growth in the first quarter of this year as the company prepares for its merger with Swiss operator Panalpina later this year. Regulatory approval for the merger has yet to be achieved, but DSV believes that the merger with Panalpina will create the second-largest airfreight forwarder in the world, measured by volume. The combined volumes of the two companies will handle 1.5 million tonnes of airfreight annually with a total of $17 billion revenue.
Panalpina, an international freight forwarding and logistics company, reported $0.82 (Swiss Francs, or CHF) per share in earnings for the first quarter of 2019 compared to $0.72 CHF for the same period last year. This is an "in-line report" for the Swiss company according to Seeking Alpha's estimate. This is the first report from the company since the announcement earlier this month that Panalpina would be acquired in a $4.6 billion deal by Danish competitor DSV.
Danish logistics giant DSV has offered to buy Swiss logistics major Panalpina, quoting a price of 195.8 Swiss francs per share in a deal worth around $4.6 billion. The initial bid was a stock-and-cash offer of 170 Swiss francs per share in January, which was increased to an all-cash bid of 180 Swiss francs per share in February. If this newly framed deal goes through, the merged company would be the world's fourth-largest freight forwarder in terms of revenue with an excess of $17 billion per year – behind only DHL, Kuehne & Nagel, and DB Schenker.
Take Panalpina Welttransport AG. Having almost 50 percent of its shares owned by a philanthropic foundation hasn’t helped. Rather than cash out, it’s clear the Ernst Goehner Foundation wanted to stay invested after all.
COPENHAGEN/ZURICH (Reuters) - Swiss logistics group Panalpina has bowed to an increased 4.6 billion Swiss francs ($4.6 billion) bid from Danish rival DSV, ending a more than two month takeover battle designed to build scale in the consolidating transport sector. DSV, whose Chief Executive Jens Bjorn Andersen has been on the hunt for targets to broaden his company's global reach and help cut costs, said on Monday Panalpina had accepted an all-share offer of 2.375 DSV shares for each Panalpina share. Shares in DSV rose 2.5 percent in early trade while Panalpina shares jumped 15 percent.
ZURICH (Reuters) - Shareholders in Swiss freight forwarder Panalpina should reject its largest investor's proposal to remove a voting rights cap, proxy adviser Glass Lewis said on Tuesday. It cited concerns ...
Panalpina is looking to consolidate, and not be consolidated, as it says it wants to combine its logistics business with that of another company. Meanwhile putative suitor DSV continues to woo the Swiss freight forwarder with a revised offer. Agility's logistics revenue primarily comes from inventory management, order fulfilment and transportation services, along with ocean and air freight forwarding.
Danish logistics group DSV A/S sweetened its offer for Panalpina to $4.3 billion (£3.4 billion), with a tug of war escalating on Friday over the Swiss company as it weighs a separate deal with Kuwait's Agility Group. DSV raised its bid for Panalpina to 180 Swiss francs per share in cash last week from the previous cash-and-shares offer worth around 170 francs, the Danish company said. DSV went public with its raised offer after Panalpina and Agility Group announced a possible tie-up.
ZURICH (Reuters) - Swiss freight forwarder Panalpina could buy the logistics business of Agility Group, with the Kuwaiti company potentially taking a stake in Panalpina, people familiar with preliminary ...
European shares were flat on Monday as the heavyweight banking sector fell further following poor results from Julius Baer and as optimism fueled by strong U.S. economic data faded. The pan-European STOXX ...
Danish logistics company DSV's $4 billion-plus bid for Panalpina hit a roadblock on Monday when the Swiss freight forwarder's top shareholder rejected the offer, saying Panalpina should stick to its own "consolidator strategy". Panalpina shares closed down 11.7 percent at 157.3 Swiss francs. The snub by the Ernst Goehner Foundation, which owns nearly 46 percent of Panalpina, marks the second time in the past few months that DSV Chief Executive Jens Bjorn Andersen has encountered resistance in Switzerland.
Danish logistics company DSV's $4-billion-plus bid for Panalpina hit a roadblock on Monday when the Swiss freight forwarder's top shareholder rejected the offer, saying Panalpina should stick to its own "consolidator strategy". Panalpina shares were down 6.1 percent at 167.4 Swiss francs at 1214 GMT. The snub by the Ernst Goehner Foundation, which owns nearly 46 percent of Panalpina, marks the second time in the last few months that DSV Chief Executive Jens Bjorn Andersen has encountered resistance in Switzerland.
Denmark's DSV (DSV.CO), whose tentative $4 billion (£3 billion) bid for Swiss shipper Panalpina (PWTN.S) would be its largest takeover, will seek additional billion-dollar deals regardless of this offer's fate, Chief Executive Jens Bjorn Andersen said. In Zurich for meetings, Andersen said the allure of cost-cutting, including trimming duplicate jobs, as well as broadening global reach with Panalpina's air- and sea-freight operations, are driving his bid to create what would be the world's No. 4 freight-forwarding company. Only DHL Logistics, Kuehne & Nagel (KNIN.S) and DB Schenker would be bigger.
Denmark's DSV is making another try at consolidation in the freight forwarding industry with an unsolicited $4.1 billion bid for Swiss rival Panalpina (SWX: PWTN). Last year, DSV also made an unsolicited $1.5 billion offer for another Swiss freight forwarder, Ceva Logistics, which was thwarted by French ocean carrier CMA CGM. A move to tie up the fifth and sixth largest ocean freight forwarder by volume comes as world trade faces a slowdown in 2019 and freight forwarders will be on the hunt for volumes.