The Danish supply chain specialist’s $1.35 billion merger agreement with struggling third-party logistics provider UTi Worldwide is expected to close Friday.
Danish supply chain specialist DSV obtained South African antitrust approval to acquire third-party logistics provider UTi Worldwide, the final antitrust approval required to complete the transaction, DSV said today.
The $1.35 billion merger agreement is expected to close Friday. Once the transaction is finalized, each ordinary share of UTi Worldwide will be converted into the right to receive a cash payment of $7.10 with no interest.
UTi Worldwide’s shareholders voted overwhelmingly last week to adopt the merger agreement with DSV.
Based out of Long Beach, Calif., UTI Worldwide has 310 offices and 230 logistics centers throughout 59 countries.
DSV receives final antitrust approval for UTi acquisition
