Panalpina sees itself as a buyer rather than a target in the current consolidation battle among freight forwarders. So says Stefan Karlen, the Swiss company's ceo in response to DSV's takeover bid.
This writes Bloomberg News. Karlen claims to want to grow both organically and non-organically with Panalpina. In doing so, it does not shy away from both small and large acquisitions. "From an operational point of view, we are ready for a larger transaction," Karlen said.
With his statements, Karlen seems to dismiss the bid of peer DSV, the Danish company's unsolicited takeover bid for Panalpina at the end of January. Some critical shareholders of Panalpina support a merger. According to shareholder Cevian, the company is underperforming. Karlen stressed that the board will do its "duty" and consider the bid.
