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Asked by Reuters whether the foundation would accept a higher offer and tender its shares, he said: “We believe in Panalpina’s growth case. If the situation were to change, it would be our duty to consider any new facts.” cufflinks types. Another big Panalpina owner, 12.3 percent stakeholder Cevian, has been pushing the Swiss company to consider being bought out, amid its struggles in ocean freight, a delayed IT system and profitability and growth that have lagged rivals. Sweden-based Cevian declined to comment..

Andersen wants Panalpina’s air and sea freight operations to help DSV consolidate the fragmented freight-forwarding industry. The deal, if it succeeds, would make DSV the industry’s fourth-largest player, behind DHL Logistics, Kuehne & Nagel and DB Schenker. The snub of DSV by Panalpina’s top shareholder could mean Andersen must raise his cash-and-shares bid to convince important investors to back the proposal. Previously, Andersen declined to say if DSV would consider raising its offer, should it encounter resistance, but said that “we are not afraid of failing twice” should the Panalpina deal end similarly to its bid for CEVA cufflinks types.

Analysts’ views over whether Andersen would raise its offer were mixed, with some saying they would not rule out a counterproposal and others concluding the current bid may be the ceiling cufflinks types. DSV’s offer implied a takeover multiple of 26.6 times Panalpina’s earnings before interest and taxes (EBIT), or a 64 percent premium to the sector, Jefferies analysts said in a note to investors. “We think DSV has already made a full offer for Panalpina, which is difficult to beat,” Jefferies said..

WASHINGTON (Reuters) – New orders for U.S.-made goods unexpectedly fell in November amid sharp declines in demand for machinery and electrical equipment, government data showed on Monday, suggesting a slowdown in manufacturing as 2018 ended. Factory goods orders fell 0.6 percent, the Commerce Department said, after an unrevised 2.1 percent drop in October. Economists polled by Reuters had forecast factory orders rising 0.2 percent in November. The release of the report was delayed by a recently ended five-week partial shutdown of the federal government cufflinks types.

A survey from the Institute for Supply Management published last Friday suggested manufacturing activity picked up at the start of the year, driven by a sharp rebound in orders in January. But some manufacturers continued to complain that tariffs on steel imports were pushing up prices of raw materials. In November orders for machinery tumbled 1.7 percent after gaining 0.2 percent in October. There were large declines in orders for industrial and metalworking machinery, as well as ventilation, heating, airÔÇÉconditioning and refrigeration equipment cufflinks types.