2022 was another active year for M&A in logistics and transportation (L&T) worldwide. This was despite increasing headwinds and a weakening near-term global economic outlook, driven by high inflation, central banks tightening monetary policy and growing geopolitical tensions. L&T players continue to be impacted by both highly elevated fuel and energy costs whilst contracting freight rates since the beginning of 2H 2022 in air and ocean put significant pressure on pandemic-era levels of outsized profitability.

Against this background, 2022’s healthy deal ...

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