The board of administrators of ZIM Built-in Delivery Providers (NYSE: ZIM) has obtained affords from a number of main delivery firms because it examines strategic potentialities for the corporate. After “Globes” revealed {that a} takeover bid had been obtained from Hapag-Lloyd, one other supply was obtained, so far as is understood from a bigger firm, MSC. Maersk has additionally been talked about as all for ZIM.
ZIM’s board acknowledged in response: “The method of the strategic evaluate of alternate options for yielding worth to the shareholders is progressing, and a number of other proposals from main firms are being examined. We is not going to touch upon the identification of the events or the content material of the proposals till an settlement has been reached.”
ZIM, headed by Eli Glickman, has a market cap of $2.26 billion. Final month, Glickman along with delivery magnate Rami Ungar submitted a suggestion for the corporate that was turned down, however the board subsequently launched into a strategy of inspecting strategic alternate options.
In the meantime, the ZIM board has obtained assist in its battle with a bunch of shareholders looking for to nominate administrators on its behalf. Consultancy and proxy advisor Glass, Lewis & Co. has really helpful to its clients to assist the board’s proposal on the firm’s forthcoming shareholders assembly and to oppose the transfer by the shareholder group. It thereby joins proxy advisor ISS, which additionally really helpful supporting the board’s proposal.
A bunch of Israeli shareholders holding a complete of 8% of ZIM not too long ago put ahead three candidates of their very own for the board: Dr. Keren Bar-Hava CPA, Ron Hadassi, and Ran Gritzerstein. After a number of days, two administrators resigned, and former supervisor of banks on the Financial institution of Israel Yair Avidan, and Dr. Yoram Turbowicz, a former competitors commissioner and head of the prime minister’s bureau, have been appointed of their place.
ZIM shareholders might be requested which administrators they want to see on the board, Avidan and Turbowicz or the three candidates put ahead by the shareholder group. Altogether, the shareholders will elect eight administrators from eleven candidates.
Glass, Lewis & Co. states that the fears raised by the shareholder group about the potential for a administration buyout led by Glickman ignore the truth that the possession of the corporate may be very decentralized, with the ten largest shareholders holding just one.2-2.4% every. With such an possession construction, any acquisition supply (whether or not from the administration or from an exterior purchaser) would require broad assist among the many shareholders to succeed.
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Glass, Lewis provides that the board’s actions mirror an effort to make sure an neutral course of, and that the marketing campaign by the opposing shareholders shouldn’t be based mostly on proof and that they haven’t offered a convincing argument for electing their candidates.
ZIM chairperson Yair Seroussi welcomed the advice to assist the board’s candidates, saying, “The shareholders have clear exterior affirmation that the board of administrators supervising the strategic evaluate is unbiased, empowered, and performing for the advantage of all of the shareholders. I hope that the Israeli establishments will be a part of the traders typically in reaching the suitable end result. We’re dedicated to the continuation of a clear and punctilious course of, even because the evaluate approaches its conclusion.”
Revealed by Globes, Israel enterprise information – en.globes.co.il – on December 14, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
