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日本海事新聞ニュース Japan Maritime Daily Dec 11, 2025 (Thu)

ZIM Rejects CEO Buyout, Gears Up for Shareholder Proxy Battle

　On December 8 and 9, Israeli shipping company ZIM announced that it had rejected a takeover proposa ・・・続きはログインして下さいnext %E3%80%80On+December+8+and+9%2C+Israeli+shipping+company+%3Cb%3EZIM%3C%2Fb%3E+announced+that+it+had+rejected+a+takeover+proposal+from+CEO+%28Chief+Executive+Officer%29+Eli+Glickman%2C+calling+it+a+%E2%80%9Csignificant+undervaluation%2C%E2%80%9C+and+that+some+shareholders+had+launched+a+proxy+fight+in+response+to+the+proposal.+Ahead+of+the+annual+general+meeting+on+December+26%2C+the+board+called+on+shareholders+to+support+the+re-election+of+eight+current+directors+and+to+vote+against+three+candidates+nominated+by+opposing+shareholders.+%3Cbr%3E%E3%80%80According+to+%3Cb%3EZIM%3C%2Fb%3E%2C+Glickman%E2%80%99s+offer+was+reportedly+below+the+company%E2%80%99s+cash+balance%2C+and+after+carefully+reviewing+the+proposal%2C+the+board+unanimously+rejected+it%2C+determining+that+it+would+%E2%80%9Csignificantly+impair+the+company%E2%80%99s+value.%E2%80%9C+The+company+stressed+that+%E2%80%9Crumors+that+the+board+of+directors+would+accept+an+under-offer+are+unfounded.%E2%80%9C+%3Cbr%3E%E3%80%80Following+the+news+that+the+acquisition+proposal+was+rejected%2C+a+group+of+investors+who+claim+to+own+about+5%25+of+the+company%E2%80%99s+shares+rebelled+and+nominated+three+candidates+for+directorship.+%3Cb%3EZIM%3C%2Fb%3E+pointed+out+that+the+group+had+failed+to+submit+required+disclosure+documents+and+had+not+outlined+plans+to+increase+shareholder+value.+Investors+are+demanding+a+special+dividend%2C+but+%3Cb%3EZIM%3C%2Fb%3E+has+rejected+this+as+well%2C+arguing+that+it+would+%E2%80%9Cimpair+the+liquidity+of+its+funds%E2%80%9C+because+its+business+structure+relies+on+chartering+ships+for+much+of+its+fleet.+%3Cbr%3E%E3%80%80The+company+said+it+continues+to+consider+proposals+from+sources+other+than+CEO+Glickman+as+%E2%80%9Cstrategic+options%E2%80%9C+and+has+established+a+special+committee+with+two+new+independent+directors+appointed+to+evaluate+acquisition+proposals+and+potential+mergers.+The+conflict+between+management+and+some+shareholders+is+expected+to+become+a+key+issue+at+the+company%E2%80%99s+annual+general+meeting+at+the+end+of+the+year.+%3Cbr%3E%E3%80%80Germany%E2%80%99s+Hapag+Lloyd+is+said+to+have+made+an+initial+proposal+to+acquire+%3Cb%3EZIM%3C%2Fb%3E%2C+and+several+major+shipping+companies+are+reportedly+interested%2C+including+the+largest+shipping+company+MSC+and+Denmark%E2%80%99s+Maersk.+However%2C+the+Israeli+government+holds+golden+shares+in+%3Cb%3EZIM%3C%2Fb%3E%2C+giving+it+veto+power+over+important+matters+such+as+sales.+%3Cb%3EZIM%3C%2Fb%3E%E2%80%99s+employees+are+also+opposed+to+foreign+control%2C+making+the+acquisition+process+difficult.+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%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