BofA analyst Muneeba Kayani notes ZIM Integrated’s (ZIM) shares are up 16% following unconfirmed news that the company’s CEO Eli Glickman is planning to take the company private. As per the article, Glickman is in a group including five other executives and Israeli businessman Rami Ungar and the group has bid $2.4B for ZIM. This bid would imply $20 per share or a 29% premium to the ZIM market cap as of Friday’s close. Earlier this year in March, there was news of the CEO taking the company private, but that did not materialize, and no price was mentioned at that time. On BofA’s estimates, if true, this potential $2.4B bid would imply an enterprise value of $5B, 2025 EV/EBITDA of 2.4-times and P/B of 0.6-times for ZIM. The firm has an Underperform rating on the shares with a price target of $14.80.
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