Possible takeover for Christian Salvesen
Logistics firm Christian Salvesen has revealed that it has been approached by two separate parties with a view to a possible takeover of the company. The news comes as little surprise as industry experts have long regarded Salvesen as the weakest of the UK publicly listed 3PLs.
Speculation surrounds the identity of the two suitors although UK rival Wincanton is tipped by many as a likely candidate.
However there is any number of other potential firms lined up to snap up Salvesen. French operator Norbert Dentressangle has made no secret of its desire to grow substantially through acquisitions and other foreign businesses like Kuehne + Nagel and Deutsche Bahn could also be in the running.
As an outside bet TDG could be looking to revive its aborted merger plans with Salvesen from several years ago.
Salvesen share price has risen 26 pct to 65 p on the back of the news, and its board confirms that discussions are continuing, although it cautions: There can be no certainty that a formal offer for the Company will be forthcoming or as to the terms on which any offer might be made.
