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Industry concentration in the liner industry is getting stronger by the day
as mergers, acquisitions and take-overs are becoming order of the day.
Yet another mega merger shipping deal has been announced following the
acquisition of P&O Nedlloyd by the world’s number one liner company, Maersk
Line two months ago, rated as world’s one of the biggest mergers in recent
years.
German container line Hapag-Lloyd has pulled off a stunning coup after
topping rival bids for CP Ships with an offer that values the
UK-headquartered company at US$2.3bn.
But shortly after the announcement, speculation mounted that CMA CGM was
preparing a rival approach.
Hapag-Lloyd's parent company, TUI, has made an offer of US$21.50 per share,
representing a premium of 24.9 per cent over CP Ships' average closing price
for the last three months.
Hapag-Lloyd is preparing a bid for CP Ships which could result in an auction
for the company and a price of more than EUR2bn (US$2.6bn).
TUI, the tourism-to-shipping parent of the Hamburg liner company, in a
statement on the bid, pointed to the continuing consolidation process in the
industry.
"Against this background, TUI and Hapag-Lloyd are having discussions with
other container shipping companies on a regular basis, including CP Ships,"
it continued.
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