Hapag-Lloyd Acquires ZIM Integrated Shipping Services in $4.2 Billion Deal
German shipping giant Hapag-Lloyd has agreed to acquire ZIM Integrated Shipping Services for $4.2 billion, or $35 per share in cash, marking a 58% premium to ZIM's closing price on Friday. The deal sent ZIM stock surging 34% to $29.70 in pre-market trading.
The acquisition positions Hapag-Lloyd as the world's fifth-largest container shipping company, boasting a combined fleet of over 400 vessels. Israeli private equity fund FIMI will acquire a carved-out business with 16 vessels from ZIM, including Israel's golden share.
Regulatory hurdles remain, and the transaction has sparked backlash in Israel, with ZIM workers at the Haifa headquarters staging a strike in protest.