Imperial Logistics rockets after R12.7bn buyout offer
Emirati logistics giant DP World has made an offer at a premium of more than a third for Imperial Logistics shareholders
08 July 2021 - 08:18
UPDATED 09 July 2021 - 07:26
The share price of Imperial Logistics, whose trucks haul everything from beer to medical supplies, surged by a third on Thursday in the wake of a R12.7bn buyout offer that served as further confirmation that global investors are interested in unlocking value from JSE-listed stocks.
In what could be the biggest deal since PepsiCo’s $1.7bn (R26bn) acquisition of Pioneer Foods in 2020, Imperial said its management backed the deal that would be a huge shot in the arm for its ambitious plans to become the go-to provider of logistics and market-access services in Africa...
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