DSV acquires Panalpina to become world’s 4th largest freight firm

Danish logistics company DSV is to take over the Swiss company Panalpina for US$4.6 billion in a bid to consolidate its position in the transport sector. According to Reuters, DSV is seeking to broaden his company’s global reach and cut costs. With the addition of Panalpina, DSV will become the world’s fourth-largest freight-forwarding company, behind DHL Logistics, Kuehne & Nagel and DB Schenker. DSV expects to be able to integrate Panalpina within two to three years and is confident that the takeover will be approved by the competition watchdog.