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The snub by the Ernst Goehner Foundation, which owns nearly 46 percent of Panalpina, marks the second time in the past few months that DSV Chief Executive Jens Bjorn Andersen has encountered resistance in Switzerland. In October, CEVA Logistics rejected the Danes’ $1.55 billion approach and subsequently deepened ties with French shipping company CMA CGM. “We strongly believe that Panalpina can create more value for its shareholders, customers and employees through its consolidator strategy than the published non-binding purchase offer from DSV,” said Ernst Goehner Foundation board member Thomas Gutzwiller in a statement.

Asked by Reuters whether the foundation would accept a higher offer and tender its shares, he said: “We believe in Panalpina’s growth case, If the situation were to change, it would be our duty pure silver cufflinks to consider any new facts.”, Another big Panalpina owner, 12.3 percent stakeholder Cevian, has been pushing the Swiss company to consider being bought out, amid its struggles in ocean freight, a delayed IT system and profitability and growth that have lagged rivals, Sweden-based Cevian declined to comment..

Andersen wants Panalpina’s air and sea freight operations to help DSV consolidate the fragmented freight-forwarding industry. The deal, if it succeeds, would make DSV the industry’s fourth-largest player, behind DHL Logistics, Kuehne & Nagel and DB Schenker. The snub of DSV by Panalpina’s top shareholder could mean Andersen must raise his cash-and-shares bid to convince important investors to back the proposal. Previously, Andersen declined to say if DSV would consider raising its offer, should it encounter resistance, but said that “we are not afraid of failing twice” should the Panalpina deal end similarly to its bid for CEVA.

Analysts’ views over whether Andersen would raise its offer were mixed, with some saying they would not rule out a counterproposal and others concluding the current bid may be the ceiling, DSV’s offer implied a takeover multiple of 26.6 times Panalpina’s earnings before interest and taxes (EBIT), or a 64 percent premium to the sector, Jefferies analysts said in pure silver cufflinks a note to investors, “We think DSV has already made a full offer for Panalpina, which is difficult to beat,” Jefferies said..

WASHINGTON (Reuters) - New orders for U.S.-made goods unexpectedly fell in November amid sharp declines in demand for machinery and electrical equipment, government data showed on Monday, suggesting a slowdown in manufacturing as 2018 ended. Factory goods orders fell 0.6 percent, the Commerce Department said, after an unrevised 2.1 percent drop in October. Economists polled by Reuters had forecast factory orders rising 0.2 percent in November. The release of the report was delayed by a recently ended five-week partial shutdown of the federal government.

A survey from the Institute pure silver cufflinks for Supply Management published last Friday suggested manufacturing activity picked up at the start of the year, driven by a sharp rebound in orders in January, But some manufacturers continued to complain that tariffs on steel imports were pushing up prices of raw materials, In November orders for machinery tumbled 1.7 percent after gaining 0.2 percent in October, There were large declines in orders for industrial and metalworking machinery, as well as ventilation, heating, air‐conditioning and refrigeration equipment..

Orders for electrical equipment, appliances and components dropped 1.1 percent after rising 1.0 percent in October. But orders for transportation equipment rebounded 3.0 percent after plunging 12.4 percent in October. Orders for civilian aircraft and parts rose 6.9 percent in November. Motor vehicles and parts orders edged up 0.1 percent. The Commerce Department also said November orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans on equipment, dropped 0.6 percent as reported in December. Orders for these so-called core capital goods increased 0.5 percent in October.

COPENHAGEN (Reuters) - Danish authorities have expelled two Huawei Technologies staff after an inspection at the company’s Copenhagen office showed they failed to comply with laws covering residence and work permits, police said on Monday, Police said the inspection of Chinese company’s Copenhagen office was part of a “routine pure silver cufflinks investigation” done by authorities at locations with many foreign workers, Four Huawei staff were charged following Thursday’s inspection, of which two were later expelled from the country, a Copenhagen police spokeswoman said..