CEVA Logistics rejects CMA CGM takeover bid
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CMA CGM executives must be scratching their heads at the reaction from CEVA Logistics’ board of directors that on Monday rejected the carrier’s $1.67 billion bid, citing the value of the company that has been elevated by CMA CGM’s investment in CEVA Logistics.
The board of CEVA said their company was worth at least 25 percent more than the offer made by CMA CGM, which owns 33 percent of CEVA, to buy all publicly held shares of the logistics provider for 30 CHF per share ($30).
Source : https://www.joc.com/maritime-news/container-lines/cma-cgm/ceva-logistics-rejects-cma-cgm-takeover-bid_20190128.html