Core Insights - ZIM Integrated Shipping Services is currently involved in a significant buyout and takeover battle, attracting interest from both insiders and foreign entities due to its well-capitalized business [1] Company Performance - The container shipping company has reported very strong results, indicating robust financial health and operational performance [1]

Core Viewpoint - ZIM Integrated Shipping Services Ltd. is urging shareholders to support its independent board and ongoing strategic review by voting for all eight of its nominees and against the three dissident nominees, following recommendations from leading proxy advisory firms Glass Lewis and ISS [1][2][6]. Group 1: Proxy Advisory Recommendations - Glass Lewis has recommended that shareholders vote for all eight of ZIM's director nominees and against the three dissident nominees, affirming the board's independence and the appropriateness of its strategic review process [1][6]. - ISS has also advised shareholders to support ZIM's full slate of nominees, reinforcing the board's capability to oversee the strategic review [2][6]. Group 2: Strategic Review Process - ZIM's board is conducting a comprehensive and independent strategic review, exclusively led by independent board members and supported by external financial and legal advisors, with no management involvement [3][4]. - The board has received multiple indications of interest from strategic and financial parties as part of its outreach efforts [3]. Group 3: Dissident Group's Position - Glass Lewis found no evidence of flaws or conflicts in the board's process, stating that the dissident group's concerns are based on unsubstantiated claims rather than rigorous analysis [5]. - The dissident group has not provided a compelling case for board change, relying on rumors and speculation rather than concrete evidence [5]. Group 4: Shareholder Structure and Governance - ZIM's shareholder base is highly dispersed, with the ten largest shareholders holding between approximately 1.2% and 4.1% of the company's shares, making it unlikely for any single investor to influence a change-of-control transaction [5]. - The dissident nominees lack relevant experience in maritime operations and large-scale strategic transactions, which are critical for overseeing a capital-intensive shipping business [5].

Core Viewpoint - ZIM is facing a proxy fight initiated by an investor group that controls over 5% of its stock, while the company is undergoing a strategic review that may include a sale [1][4]. Group 1: Proxy Fight and Board Dynamics - An investor group led by Mor Gemel & Pension Ltd., Reading Capital Ltd., and Sparta 24 Ltd. has nominated three directors to ZIM's board [1]. - ZIM disclosed the proxy fight in a letter to shareholders, raising concerns about the investor group's transparency due to a lack of required disclosures [2]. - Institutional Shareholder Services (ISS) supports ZIM's board, recommending shareholders vote for all eight current directors and against the three nominated by the investor group [2]. Group 2: Strategic Review and Acquisition Interest - ZIM's board confirmed a strategic review process, which may involve a sale, and has received multiple indications of interest from potential bidders [4]. - Reports indicate that ZIM has received at least three acquisition offers, including one from Hapag-Lloyd [4]. - The board has engaged independent financial and legal advisors to assist in the review process and has formed a transaction committee [5]. Group 3: Management and Shareholder Relations - The board unanimously determined that a takeover bid from CEO Eli Glickman and shipping tycoon Abraham Ungar materially undervalued the company [5]. - The board criticized the dissident group for not engaging meaningfully on the issues raised and for submitting nominations without prior discussion [6]. - The board's letter suggests that the dissident group's campaign is based on misleading assumptions regarding the strategic review process [5][6].

Core Viewpoint - ZIM Integrated Shipping Services Ltd. has demonstrated strong operational and financial performance, emphasizing its commitment to shareholder value and ongoing strategic review amid a proxy fight with dissident shareholders [1][2][3]. Company Performance - Since its IPO in 2021, ZIM has achieved total shareholder returns exceeding 300%, outperforming larger global carriers and the S&P 500 [4]. - The company has grown its fleet from approximately 70 to 129 vessels, doubling its TEU carrying capacity, and maintained EBIT margins averaging 30% since the IPO [6]. - ZIM has returned $5.7 billion in dividends since its IPO, equating to over $47 per share, which is more than three times the IPO price [6]. Strategic Review - The Board is conducting a comprehensive strategic review to assess opportunities for enhancing shareholder value, prompted by an unsolicited proposal from the CEO that was deemed to undervalue the company [9][10]. - The review is ongoing and includes evaluating potential alternatives and enhancements to ZIM's standalone plan, with multiple indications of interest received [11]. Board Composition - ZIM's Board is independent and has been significantly refreshed, with five of eight directors added since the IPO, bringing substantial expertise in finance, M&A, and operational leadership [12]. - The independent Board meets weekly to oversee the strategic review process, ensuring active engagement and oversight [12]. Response to Dissident Group - The dissident group's campaign is criticized for being based on misleading assumptions and lacking constructive engagement with the Board [13][15]. - The dissident nominees are noted to have limited relevant experience in shipping and logistics, which raises concerns about their ability to oversee ZIM's strategic review [19][20]. - The Board emphasizes the importance of maintaining independent oversight to protect shareholder value and ensure a successful strategic review [23][24].

ZIM is being shopped around. The Israeli container shipping firm is considering buyout offers in the wake of a purchase proposal co-led by CEO Eli Glickman. More from Sourcing Journal A report from Israel-based business publication Globes said German ocean carrier giant Hapag-Lloyd has made an offer to acquire ZIM. However, the bid is in the initial stages and negotiations have yet to begin between the sides. Such a deal would combine the fifth and 10th largest container shipping firms worldwide by marke ...

HAIFA, Israel, Dec. 8, 2025 /PRNewswire/ -- ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM" or the "Company") today announced that leading independent proxy advisory firm Institutional Shareholder Services ("ISS") has recommended that shareholders vote ONLY "FOR" all eight of ZIM's director nominees and AGAINST the three director nominees proposed by the dissident shareholders in connection with the Company's Annual Meeting on December 26, 2025. Since its IPO, ZIM has delivered peer-leading total ...

Core Viewpoint - Hapag-Lloyd, a major German shipping company, has submitted a preliminary bid to acquire ZIM, an Israeli shipping company, amidst ongoing speculation about ZIM's potential sale [2][5]. Group 1: Acquisition Interest - Hapag-Lloyd's bid is in the initial stages, with substantial negotiations yet to begin [2][5]. - Prior to Hapag-Lloyd's bid, there were rumors of interest from other major shipping companies, including MSC and Maersk, in acquiring ZIM [2][5]. - ZIM is currently the tenth largest shipping company globally based on market share [2][5]. Group 2: Competing Offers - ZIM's board has confirmed receiving a buyout offer from a consortium led by CEO Eli Glickman and Israeli businessman Rami Ungar, valued at $2.4 billion, exceeding ZIM's market value of approximately $2.1 billion [2][5]. - Analysts suggest that if the board opts for a sale, the consortium led by the current CEO may be the best option, but they question whether their offer can compete with larger players in the market [2][5]. Group 3: Employee Concerns - The acquisition proposal from Hapag-Lloyd has faced strong opposition from ZIM's employee committee, primarily due to concerns over Hapag-Lloyd's shareholders, including Qatar Investment Authority and Saudi Arabia's PIF [3][6]. - The employee committee has urged the Israeli government to use its "Golden Share" to block the transaction, citing national security concerns related to maritime trade dependence [3][6]. Group 4: Financial Performance - ZIM reported a significant decline in its third-quarter financial results, with net profit dropping to $123 million from $1.1 billion in the same period last year [3][6]. - The company anticipates an adjusted EBITDA of between $2 billion and $2.2 billion for the full year of 2025 [3][6].

Group 1 - ZIM Integrated Shipping Services Ltd. is considered an attractive buy based on the analysis of container freight rates [1] - Invest Heroes LLC is a research firm established in 2018, providing equity and fixed income research services, gaining recognition among professional investors and private clients [1] - The firm covers over 120 Russian, US, and Chinese stocks, as well as 200 Russian bonds, and serves a diverse client base including institutional clients and private clients [1] Group 2 - The research team at Invest Heroes consists of 9 analysts and has achieved global professional recognition, participating in Refinitiv and Factset [1] - The firm’s forecasts are noted for being ahead of the market due to a detailed business model built for each company [1]

Group 1 - The article discusses the attractiveness of ZIM as an investment opportunity, maintaining a target price of $18 based on container freight rates [1] - Invest Heroes LLC is a research firm established in 2018, providing equity and fixed income research services, gaining recognition among professional investors and private clients [1] - The firm covers over 120 Russian, US, and Chinese stocks, as well as 200 Russian bonds, and has a team of 9 analysts achieving global professional recognition [1] Group 2 - Invest Heroes has been included in Refinitiv and Factset, with their estimates participating in the Refinitiv consensus and being recognized as top analysts for several Russian companies [1] - The firm emphasizes its detailed business model for each company, which allows for forecasts that often precede market trends [1]

Core Viewpoint - ZIM Integrated Shipping Services Ltd. is set to distribute a dividend of $0.31 per ordinary share, amounting to approximately $37 million, on December 8, 2025, with a tax ruling from the Israeli Tax Authority allowing for a potentially reduced withholding tax rate for certain shareholders [6][1]. Dividend Distribution - The dividend payment is scheduled for December 8, 2025, with shareholders eligible as of December 1, 2025 [6]. - The company will withhold 25% of the dividend amount for tax purposes, remitting this to the appointed agent, IBI Trust Management [8][9]. Tax Withholding Procedures - The standard Israeli withholding tax rate is 30% for substantial shareholders and 25% for other shareholders, but certain shareholders may qualify for a reduced rate under specific conditions [7][8]. - Shareholders from countries with tax treaties with Israel can apply for a reduced withholding tax rate during the Change of Rate Period, which runs from the payment date to January 8, 2026 [8][10]. Documentation Requirements - Shareholders must submit all required documentation to the agent by January 8, 2026, to be eligible for the reduced tax rate [10][11]. - Required documents include proof of tax residence, identification, and confirmation of beneficial ownership of the dividend [8][11]. Agent Appointment - IBI Trust Management has been appointed as the processing agent to facilitate the tax withholding procedures for shareholders [9][12]. - The agent will not provide tax advice, and shareholders are encouraged to consult their own tax and financial advisors [4][9].