It was a spirited, in Swiss fashion, and spiritual Detlef Trefzger (pictured below) this week during one of his last conference calls with analysts before stepping down as CEO of Kuehne + Nagel (K+N) this summer. With K+N veteran Stefan Paul – part of the management board since 2013 – starting as CEO...
In the past couple of years, logistics has been waiting for its redemption child from Europe, France’s Gefco, to be adopted by new parents on either side of the Atlantic. While it couldn’t be done during normal markets, however, it’s entirely possible that the Russia-Ukraine war could facilitate it. Either by finding...
It’s big news that will shock no one. Some two years after DSV leapt into the list of forwarding superstars with its bold acquisition of Panalpina, it is now adding some $4bn to annual revenues with the acquisition of Agility’s Global Integrated Logistics (GIL). It’s a new twist in an old tale:...
Canadian National (CN) is trying to derail the planned marriage of Kansas City Southern (KCS) and Canadian Pacific (CP) by wooing KCS shareholders with a higher offer. At US$325 per share for the US rail company, CN’s offer values KCS at $33.7bn, beating the $29bn purchase price rival CP agreed last month. CN...
REUTERS reports: Canadian National (CNR.TO) said on Tuesday it had offered to buy railroad operator Kansas City Southern (KSU.N) for about $30 billion, trumping a rival bid by Canadian Pacific (CP.TO) and sending the U.S. company’s shares up more than 20%. Either combination will create the largest North American railways, spanning across the...
The Australian Financial Review (AFR) reports: Private equity firm Allegro Funds is in the box seat to acquire Toll Group’s Australian freight and freight forwarding arm, Toll Global Express. Toll owner Japan Post received two offers for the Global Express unit a fortnight ago, and was expected to nominate one bidder for a final...
Chinese express giant SF Holding is to acquire a 51.8% stake in Hong Kong’s Kerry Logistics Network – a landmark $2.3bn deal creating the “biggest logistics group in Asia”. In a filing to the Shenzhen stock exchange late last night, SF Holding, which operates courier firm SF Express, said the move would...
REUTERS reports: Chinese logistics giant SF Holdings Co is in talks to take Hong Kong-listed Kerry Logistics Networks Ltd private, in the sector’s latest consolidation attempt, four people with knowledge of the matter told Reuters. SF is preparing to offer a decent premium to Kerry’s current trading price, said one of the people,...
