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MSC and City of Hamburg Near Majority Control in HHLA Takeover Bid

MSC and City of Hamburg Near Majority Control in HHLA Takeover Bid
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Maritime

MSC and City of Hamburg Near Majority Control in HHLA Takeover Bid

Major shipping company MSC and the City of Hamburg are on the verge of securing a substantial majority, exceeding 80%, in their bid to take over the Hamburg port logistics company HHLA. The proposed joint venture involves MSC holding a maximum of 49.9%, with the city having 50.1%. The acceptance period for MSC's purchase offer to HHLA shareholders has concluded, with at least 3.9% of shares tendered. The final acceptance results and the subsequent two-week further acceptance period will determine the next steps. The goal is to reach a majority exceeding 90%, a critical threshold for potential squeeze-out of remaining shareholders.


24 Nov 23
blog image
Maritime

MSC and City of Hamburg Near Majority Control in HHLA Takeover Bid

Major shipping company MSC and the City of Hamburg are on the verge of securing a substantial majority, exceeding 80%, in their bid to take over the Hamburg port logistics company HHLA. The proposed joint venture involves MSC holding a maximum of 49.9%, with the city having 50.1%. The acceptance period for MSC's purchase offer to HHLA shareholders has concluded, with at least 3.9% of shares tendered. The final acceptance results and the subsequent two-week further acceptance period will determine the next steps. The goal is to reach a majority exceeding 90%, a critical threshold for potential squeeze-out of remaining shareholders.


24 Nov 23
blog image
Maritime

MSC and City of Hamburg Near Majority Control in HHLA Takeover Bid

Major shipping company MSC and the City of Hamburg are on the verge of securing a substantial majority, exceeding 80%, in their bid to take over the Hamburg port logistics company HHLA. The proposed joint venture involves MSC holding a maximum of 49.9%, with the city having 50.1%. The acceptance period for MSC's purchase offer to HHLA shareholders has concluded, with at least 3.9% of shares tendered. The final acceptance results and the subsequent two-week further acceptance period will determine the next steps. The goal is to reach a majority exceeding 90%, a critical threshold for potential squeeze-out of remaining shareholders.


24 Nov 23