CEVA Logistics AG
- ISIN: CH0413237394
- Land: Schweiz
Nachricht vom 11.10.2018 | 07:25
CEVA Logistics rejects take over proposal
CEVA Logistics AG / Key word(s): Takeover
Baar, Switzerland, 11 October, 2018 - The Board of Directors of CEVA Logistics AG, a global asset-light third-party logistics company, announces that it has received an unsolicited non-binding proposal to acquire the company at the price of CHF 27.75 per share in cash. The Board of Directors of CEVA Logistics carefully reviewed the proposal with the support of its legal and financial advisors and unanimously concluded that the proposal is not in the best interest of the company and its shareholders. Specifically, the Board of Directors concluded that the proposal significantly undervalues CEVA's prospects as a standalone company particularly as CEVA Logistics together with CMA CGM S.A. ("CMA CGM") as a strategic partner has been exploring measures to enhance performance in order to unlock CEVA Logistics' full potential. The unsolicited proposal is therefore inadequate. Accordingly, the Board of Directors has decided to not engage on the basis of this unsolicited proposal.
Modification of stand-still agreement with CMA CGM
A further announcement will be made in due course, if and when appropriate.
CEVA - Making business flow
End of ad hoc announcement
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