News / Ceva directors say shareholders should reject CMA CGM takeover bid

© Hieronymusukkel & CEVA

Ceva Logistics’ board of directors has recommended shareholders not to accept this morning’s offer from CMA CGM of Sfr30 per share.

The board told shareholders its decision was “based on a comprehensive review of the revised business plan for the period up to 2023, developed with external advisors and based on an independent financial opinion.

“The valuation of the revised business plan indicates a midpoint value of Sfr40 per share, well above the share price of Sfr30 offered by CMA CGM,” it ...