ZIM Integrated Shipping Services Ltd. is reportedly the subject of a potential buyout bid led by its CEO Eli Glickman and Israeli shipping magnate Rami Unger. According to Israeli business news outlet Calcalist, the bid could be valued at up to $2.4 billion, representing a 28% premium over the current market valuation. The offer price is estimated at approximately $20 per share.
The company’s board is considering whether Glickman should step aside during negotiations and whether to proceed with a sale given that ZIM’s market value is currently below its cash holdings. The news has driven ZIM’s stock price up, with significant trading volume noted.