UTi Worldwide has confirmed that it participated in exploratory conversations about its possible sale after receiving an inquiry from DSV.
In a statement the company said, “UTi can confirm that exploratory conversations have taken place between the companies, in response to an inquiry from DSV A/S, those discussions never progressed beyond a preliminary stage. Currently there are no discussions taking place between the companies.”
This statement was reflected by DSV which said, “DSV A/S confirms that, in response to an inquiry from DSV A/S, UTi Worldwide Inc. and DSV A/S have conducted certain discussions concerning DSV A/S’ potential acquisition of UTi Worldwide Inc. DSV A/S informs that there are no current discussions with UTi Worldwide Inc.”
Transport Intelligence’s Chief Executive commented, “There has been speculation for some time about whether a bid would be made for UTi Worldwide. On paper, its strength in North America, Asia and Africa would have made it highly complementary to DSV’s own forwarding operations as well as giving it significant contract logistics business. Although it seems that the DSV/UTi tie up is not proceeding, speculation over the future of mid-sized forwarders such as UTi will undoubtedly continue.”
To learn more about the mergers and acquisitions market you can register your interest for Transport Intelligence’s European Mergers & Acquisitions 2014 report here.
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