ZIM Integrated Shipping Stock Falls 6% On Merger Process Update

(RTTNews) - ZIM Integrated Shipping Services Ltd. (ZIM) shares fell 5.64 percent, or $1.44, to $24.13 on Monday after the company provided an update on its previously announced merger agreement with Hapag-Lloyd. The update largely reiterated that ZIM continues to work with Hapag-Lloyd and relevant regulatory authorities as the transaction undergoes regulatory review, without announcing any material new developments.

The stock is currently trading at $24.13, compared with its previous close of $25.57 on the New York Stock Exchange. It opened at $23.95 and has traded between $23.28 and $24.22 during the session. Trading volume reached 2.39 million shares, above its average daily volume of 1.24 million shares.

ZIM shares have traded in a 52-week range of $12.33 to $29.97.