Shareholders in US logistics player UTi have voted “overwhelmingly” to approve a $1.35bn takeover bid by DSV of Denmark, a deal that will create the world’s eighth largest airfreight forwarder.
DSV said that closing of the transaction is subject to the “relevant regulatory approval being obtained from competition authorities in South Africa, as well as satisfaction of other customary closing conditions”.
Closing of the transaction will take place on the second business day after all approvals are obtained.
DSV said: “We still expect closing in Q1 2016, as previously announced.”
