Swiss freight forwarder Panalpina's board on Tuesday said it would back a p...
FILE PHOTO: The logo of Swiss transport and logistics firm Panalpina is seen at an office building in Glattbrugg near Zurich April 3, 2013. REUTERS/Arnd Wiegmann/File Photo
Panalpina will hold an extraordinary shareholders meeting on April 5 to vote on the plan, which was proposed last month by the Ernst Goehner Foundation that owns 46 percent of the company. Until now, most Panalpina shareholders have been restricted to the 5 percent limit, with an exception granted to the Ernst Goehner Foundation. Cevian has taken issue with the exemption, saying it inappropriately handed the foundation control over Panalpina, without a majority of the shares.
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