Stephens Downgrades UTi Worldwide (UTIW) to Equal Weight

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Go back to Stephens Downgrades UTi Worldwide (UTIW) to Equal Weight

UTi Announces Agreement to be Acquired by DSV in Transaction Valued at $1.35 Billion

October 9, 2015 3:03 AM EDT

LONG BEACH, Calif., Oct. 9, 2015 (GLOBE NEWSWIRE) -- UTi Worldwide Inc. (Nasdaq: UTIW) ("UTi," "the Company"), a global supply chain services and solutions provider, today announced it has entered into a definitive agreement to be acquired by DSV for $7.10 in cash per ordinary share. This represents a 34% premium over the 30-day volume weighted average trading price for the ordinary shares and a 50% premium relative to UTi's closing trading price on October 8, 2015. The transaction, which was unanimously approved by both UTi and DSV's Boards of Directors, is valued at approximately $1.35 billion.

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