Kühne + Nagel looking for large buys, open to talks with Panalpina (translated)
25 NOV 2018
Kühne + Nagel [SWX:KNIN], the Swiss logistics group, is open to talks with Panalpina [SWX:PWTN] should the Swiss transport and logistics group indicate interest, Finanz und Wirtschaft reported.
Asked if he would react if Panalpina indicated it is ready for takeover talks, KNIN Chief Executive Detlef Trefzger told the Swiss bi-weekly he is always open to talks.
Asked if he would allow Danish potential suitor DSV to snap up Panalpina without a fight, Trefzger said first we should see if there is actually a fight, but noted that once he decides to go for a target he makes every effort.
Trefzger said the main question is whether Panalpina's main shareholder, the Ernst Göhner Stiftung, would consider a deal with a competitor, and noted he would not start a hostile takeover bid.
Trefzger said he is open to large buys and has sufficient funds for a deal.
The interview was published in the weekend edition on pages 5&6.