There are companies that seldom capture the attention of the big guns in M&A circles, and China’s Apex Logistics is apparently one of them.

Yet when trade sources – with no skin in the game – argued for an attractive target, I investigated what was going on behind the scenes for a company that I had barely heard of (Apex Logistics must not be confused with Apex Maritime, which was taken over by Hong Kong’s Kerry Logistics Network three years ago).

I was ...

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