By Helena Smolak
Hamburger Hafen und Logistik’s management and supervisory boards are in favor of an offer made by Mediterranean Shipping Company.
The German logistics and transportation company said Monday that its management and supervisory boards consider the 16.75 euro ($17.98) a share offer by the Switzerland-based shipping company as adequate.
HHLA, MSC and the city of Hamburg signed a binding preliminary framework agreement that includes additional equity capital of EUR450 million to secure the future viability of HHLA and its business model, the company said.
The acceptance period for the offer, which was disclosed Sept. 13, started Oct. 23 and remains open until Nov. 20, it said.
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