December 4, 2014 / 2:31 AM / 5 years ago

UTi Worldwide says held exploratory talks to be acquired by DSV

Dec 3 (Reuters) - Logistics company UTi Worldwide Inc said it held “exploratory” talks to be acquired by Nordic trucking company DSV A/S, denying a Bloomberg report that discussions were at an advanced stage.

UTi has been in talks with DSV since mid-2014 and could reach an agreement as early as this month, but discussions could still stall, Bloomberg reported. (bloom.bg/1rTAzl3)

“UTi can confirm that exploratory conversations have taken place between the companies, in response to an inquiry from DSV A/S, those discussions never progressed beyond a preliminary stage,” the company said in a statement.

DSV A/S issued a statement on Wednesday confirming “certain discussions” with UTi Worldwide about its potential acquisition, but said that “there are no current discussions with UTi Worldwide Inc.”

“Currently there are no discussions taking place between the companies,” UTi added. (Reporting by Abinaya Vijayaraghavan and Supriya Kurane in Bengaluru; Editing by Ken Wills)

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