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Salvesen no deal is no big deal

11th November 2004
Page 6
Page 6, 11th November 2004 — Salvesen no deal is no big deal
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TDG chief executive David Garman has played down the failure of merger talks with fellow logistics firm Christian Salvesen. saying there was no big disagreement between the two: "After preliminary talks with them it became increasingly apparent that we didn't have a shared view about how the merger could be successfully implemented. It doesn't mean that either side is right or wrong.

"If you are having difficulties on that level you have to bear in mind that if you are going to get benefits for your shareholders you have to make it work together. Without that you simply have increased risk with none of the benefits." Garman adds that he is not disappointed by the outcome of the talks: "When you go in saying to yourself, 'if I find a way forward then I'll be pleased', if that doesn't happen then that's fair enough. I would be disappointed if we were able to develop a shared view and were then unable to proceed."

Since the collapse of the merger

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