ZIM Integrated says has ‘received indications of interest from multiple parties’

Following the receipt of a preliminary, non-binding proposal to acquire all the outstanding ordinary shares of the company from Eli Glickman, the company’s Chief Executive Officer and President, and Rami Ungar, ZIM‘s Board of Directors promptly commenced a strategic review of alternatives. In connection with this review, the ZIM Board of Directors engaged Evercore as its financial advisor and Meitar Law Offices and Skadden, Arps, Slate, Meagher & Flom LLP as its legal counsel. The review, which has been ongoing for the past several months, includes consideration of potential value creation alternatives, including a sale of the company and capital allocation and return opportunities, with the goal of maximizing shareholder value. In connection with this review, the ZIM Board of Directors has received indications of interest from multiple parties, including strategic interest, which it is evaluating carefully. There is no assurance that any transaction will occur as a result of this review of alternatives and the ZIM Board of Directors does not expect to provide updates regarding this review until an agreement is reached or the review is otherwise completed. ZIM’s Board of Directors has recently added two new highly regarded independent directors – Yair Avidan and Dr. Yoram Turbowicz – who supplement the Board’s substantial financial and transactional expertise as it continues to evaluate value-maximizing alternatives.