MSC Rejects ZIM Takeover Reports as Strategic Review Drags On

Core Viewpoint - Mediterranean Shipping Company (MSC) has denied interest in acquiring ZIM, eliminating one potential acquisition scenario for the container shipping line [1] Group 1: Acquisition Interest - Reports indicated that MSC was a "leading contender" to acquire ZIM, but MSC has confirmed that no bid was ever proposed [2] - Hapag-Lloyd has not denied its interest in acquiring ZIM, while Maersk has also been linked to potential bidding [2][3] - ZIM's board is conducting a strategic review and has received interest from multiple parties, with investment bank Evercore advising them [3] Group 2: Previous Acquisition Attempts - ZIM's CEO Eli Glickman previously led a group that attempted to buy the company for $2.4 billion, but the offer was rejected as it did not meet expectations [4] - ZIM's current market capitalization stands at $2.41 billion as of Monday [4] Group 3: Strategic Partnerships and Reviews - MSC and ZIM currently have a partnership, operating a trans-Pacific Northwest service line and a new trans-Pacific cooperation that began in February [5] - ZIM's strategic review has been influenced by a proxy fight from a minority investor group seeking to replace board members and demand cash reserves distribution [6] - ZIM reached an agreement with the shareholder group to end the proxy fight and expand its board from eight to ten members [7]