Kuehne + Nagel International AG (SWX:KNIN) is ready to talk with Panalpina Welttransport (Holding) AG (SWX:PWTN) about a potential takeover of Panalpina, Kuehne & Nagel's Chief Executive Officer, Detlef Trefzger told Swiss newspaper Finanz & Wirtschaft. “We are always ready to talk,” Trefzger said, according to the interview published online on November 23, 2018. Trefzger told the Swiss newspaper he would not shy away from large acquisitions, but only if both sides agree to a deal.

“We won't do a hostile takeover,” Trefzger said, adding Kuehne & Nagel is actively pursuing deals within the fragmented logistics industry that bring new technology, access to markets and customer segments, and synergies that add additional volume. Panalpina declined to comment, when contacted by Reuters.