ZIM Integrated Shipping Services Shares Increase After Hapag-Lloyd Points to Revised Takeover Offer

MT Newswires Live09-08 18:40

ZIM Integrated Shipping Services (ZIM) shares were up 6.7% in Tuesday's premarket trading after Hapag-Lloyd said it was working to improve the terms of its takeover proposal.

Israeli regulators have indicated they were unlikely to approve the acquisition of the Israeli shipping company by Hapag-Lloyd, which has already been approved by shareholders.

"We are currently working with the various regulatory bodies to obtain the necessary approvals," Hapag-Lloyd said Monday. "We have listened carefully to the needs raised during our discussions with the Israeli government and the relevant authorities. Together with our partners, we are now developing an improved proposal designed to further strengthen Israel's maritime security and independence."

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