Finance
MSC subsidiary takes final regulatory hurdle for HHLA takeover
Global Banking and Finance Review
Company
(Reuters) – HHLA said on Friday that a subsidiary of Swiss-based MSC had received all
(Reuters) – HHLA said on Friday that a subsidiary of Swiss-based MSC had received all regulatory approvals for a voluntary public takeover offer of the German port operator.
Merger control clearance had been granted by Ukraine, it said, where HHLA operates a terminal in the Black Sea harbour of Odessa, after the European Commission granted clearance of the takeover at the beginning of October.
HHLA said MSC – the world’s biggest container shipping company – will pay 16.75 euros ($17.72) per A share to shareholders who tendered their shares in the voluntary public takeover offer.
Last year, MSC offered to buy almost half of the main operator of Hamburg port, with the city of Hamburg, which owns 69% of HHLA’s A shares and all of its unlisted S-shares, retaining control with a 50.1% stake via the S-shares.
($1 = 0.9454 euros)
(Reporting by Bernadette Hogg, Editing by Friederike Heine)
A merger is a financial transaction where two companies combine to form a single entity, often to enhance competitiveness, expand market reach, or achieve operational efficiencies.
A takeover occurs when one company acquires control of another company, either through purchasing a majority of its shares or through other means, often to expand its business operations.
A public offering is the sale of shares or securities to the general public, allowing investors to purchase ownership stakes in a company, often to raise capital for expansion or other purposes.
Explore more articles in the Finance category
