According to reports from Israel's leading financial media Calcalist and Bloomberg, Eli Glickman, the current President and CEO of ZIM Integrated Shipping Services, along with five other company executives, are collaborating with Israeli billionaire and shipping magnate Rami Ungar to seek the acquisition of this well-known Israeli container shipping company.

As per sources, ZIM's President and CEO Eli Glickman and Rami Ungar are planning a tender offer to acquire all of ZIM's shares at a valuation of up to $2.4 billion (a 28% premium).

Calcalist highlighted in their report: "The board is deliberating on whether to sell a company with a market capitalization lower than its cash holdings and whether Eli Glickman should take a leave of absence."

The reports also mentioned that Eli Glickman, the current President and CEO of ZIM, and shipping magnate Rami Ungar aim to become the new owners of ZIM, but their acquisition plans face multiple obstacles.

Calcalist had revealed the day before that the two were collaborating in an attempt to acquire the Israeli shipping company. Although Eli Glickman, the current President and CEO of ZIM, and the five senior executives he brought in, hold only a small portion of the company's shares, their collaborator Rami Ungar brings in the significant funds required.

According to Calcalist, Glickman and Ungar aim to gain control of this shipping company by purchasing all publicly issued shares of ZIM and plan to delist this shipping enterprise, which went public in 2021, from the New York Stock Exchange (NYSE).

Glickman and Ungar intend to acquire ZIM at a valuation of $23-24 billion, while the current market capitalization of ZIM stands at $1.87 billion. In other words, Glickman and Ungar are offering a premium of up to 28%.

Following the news of the potential sale and delisting, on August 11th, shares of ZIM Integrated Shipping Services listed on the New York Stock Exchange surged nearly 20%, closing at $17.81, marking a 14.9% increase.