Takeover bid for Hamburg port logistics company HHLA ends
The takeover bid by the major shipping company MSC to shareholders of the Hamburg port logistics company HHLA ends on Tuesday night. The City of Hamburg and the world's largest liner shipping company want to run HHLA as a joint venture in future, with MSC holding a maximum of 49.9 percent. Hamburg currently holds around 69 percent of HHLA. In order for the plan to be realized, MSC must convince HHLA shareholders to sell their shares to the shipping company. MSC is offering 16.75 euros per HHLA share. However, the offer, which runs until midnight on Monday, may be extended.
By midday on Monday, just under 3.9 percent of HHLA shares had been tendered to MSC, according to the shipping company's daily mandatory announcements. In addition, the world's largest liner shipping company already has an HHLA stake of just under ten percent. According to this information, the City of Hamburg and MSC thus hold a good 63.3 million HHLA shares in total. "This corresponds to a total of approx. 84.21% of the company's share capital and voting rights as of the reporting date," the press release stated.
The takeover bid by MSC for HHLA's shares could significantly impact the finances of both companies, potentially impacting stock exchanges globally. Moreover, the successful acquisition could lead to improvements in HHLA's transportation and shipping services, possibly reducing traffic congestion in the port.
Source: www.dpa.com
