Comment / Strike news takes shine off rampant Zim after Hapag-Lloyd offer

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(Editor’s note: This post was originally published at 1.00pm EST on Tuesday, 17 Feb) 

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M&A arbitrage corner, let’s dance.

Reuters reports that Zim Integrated Shipping (ZIM) workers “stopped all work” today, “stepping up a strike to press for job security guarantees after Germany’s Hapag-Lloyd, said it would buy the Israeli shipping company for $4.2bn”.

It added:

“About 800 unionized employees of a total of 1,000 workers at ZIM began the strike on Sunday at its headquarters in Haifa following talk of a planned takeover ...

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    Hapag-Lloyd Reuters ZIM Integrated Shipping Services