Conf call redux: does Kuehne + Nagel know its toys from its teus?
Yo bro, where’s the growth?
By Alex Lennane
DSV’s €3.5bn offer for Panalpina is a step too far for Kuehne + Nagel. Majority K+N shareholder Klaus-Michael Kuehne told the Handelszeitung paper, in rather a nice comment: “If the Danes absolutely want to buy a hopelessly overvalued Panalpina, then you can’t prevent it.” And according to Reuters he said its “operative potential” did not match its valuation.
However, that does not appear to be preventing Panalpina from seeking a higher offer – from DSV or anyone else, The Loadstar Premium reveals today.
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