M&A radar: Shopping in the US, Geodis shows what can be done
Another one added
COSCO Shipping Holdings has no place to hide now the takeover of Orient Overseas International Lines (OOIL) and its container line arm, OOCL, has gone through.
Financially, the tie-up justifies its existence as a multi-billion US dollar business with a market cap of Rmb43.5bn ($6.5bn) in Shanghai, but it is worth considering that COSCO would likely be worth just a fraction of that had its OOIL cash deal – which valued the target’s equity at $6.3bn – not happened.
But what’s next?