WASHINGTON (dpa-AFX) - ZIM Integrated Shipping Services Ltd.(ZIM) said that it has received competitive proposals from multiple parties to acquire all ZIM shares. The company is currently evaluating such proposals as part of its review of strategic alternatives.
'The strategic review, which is in advanced stages, includes consideration of potential value creation alternatives, such as a sale of the company and capital allocation and potential return opportunities, with the goal of maximizing shareholder value,' the company said.
The ZIM Board has also noted that it received a revised proposal from an entity owned by Eli Glickman, the company's Chief Executive Officer and President, and Rami Ungar. After careful consideration, the ZIM Board concluded that this proposal significantly undervalued the company and rejected the same.
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