Market Chatter: ZIM Receives Acquisition Offer From Swiss Shipping Group MSC

MT Newswires Live12-16

ZIM Integrated Shipping Services (ZIM) has received an acquisition offer from Swiss shipping company MSC, the Israeli news web site Ctech by Calcalist reported Sunday, citing sources familiar with the matter.

MSC has now emerged as a key competitor to Germany's Hapag-Lloyd, which has also submitted a bid for the Israeli shipping company, Calcalist reported.

ZIM said last month that its review of strategic alternatives continues and that it has received indications of interest from multiple parties.

Shares of ZIM were up 5.7% in recent Monday trading.

A Hapag-Lloyd spokesman declined to comment. ZIM and MSC and did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 19.82, Change: +1.06, Percent Change: +5.62

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