The most pressing question now concerning DSV – after news broke last week that shareholder Cevian jumped ship, forgoing the opportunity of becoming part of the DSV Panalpina family – is whether the Ernst Göhner foundation (EGS) will bow out and run with a couple of billion dollars in cash for its large stake in Panalpina, either before or after the offer settlement takes place in October.

If it happens, the idea that DSV is in control would be severely tested, ...

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