CH Robinson has said a Reuters’ report that stated it was selling its freight forwarding branch is merely “rumours and speculations”.
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Danish transport and logistics company DSV is interested in buying CH Robinson's Worldwide's business that specializes in arranging international cargo transport on behalf of shippers, according to Reuters.
Citing two anonymous sources, the news agency reports a meeting took place between DSV executives and a group of investors.
However, speaking to Trans.INFO, CH Robison’s spokesperson called the information “rumours and speculations”.
According to the article by Reuters, DSV is interested in the global freight forwarding business because it would give them better access to the sea freight business on the transpacific route. The transaction could be worth up to $9 billion, Reuters said.
The anonym sources told Reuters that DSV is currently not interested in acquiring all of C.H. Robinson or its freight brokerage business.
Earlier this year, several rumours were circling in the transportation sector about DSV planning to acquire DB Schenker, however, it has not materialised.
Regarding the purchase, DSV told Trans.INFO that the market is aware that mergers and acquisitions are an important part of DSV’s strategy, “and we have a fiduciary obligation to our shareholders to monitor the market and play an active role in further consolidation. As part of this strategy, we would review all potential opportunities but are currently unaware that there is a divestment process at CH Robinson.”
As for CH Robinson, a spokesperson of the company said the following to Trans.INFO when asked about the news:
“We do not comment on rumours and speculation.”