- Denmark-based DSV (OTCPK:DSDVF, OTCPK:DSDVY) is buying California-based logistics company UTi Worldwide (NASDAQ:UTIW) for $7.10/share in cash, a 50% premium to Thursday's close and a 34% premium to UTIW's 30-day VWAP.
- Implied enterprise value of $1.35B for UTIW.
- UTIW's board has unanimously accepted the offer.
- In its most recent 12 months, UTIW had consolidated revenue of $3.9B and Ebitda of -$6M.
- UTIW is -54% since trading at $10.38 in early June.
- Related: Could The UTI Worldwide Turnaround Story Finally Be Materializing? (Jul. 15)
- Related: UTi Worldwide's CEO Ed Feitzinger on Q2 Results (Sep. 3)