DSV A/S agreed to buy UTI Worldwide Inc. (NASDAQ: UTIW) in a transaction that implies an enterprise value of $1.35 billion as the Danish logistics company seeks to expand in the U.S. air and sea freight market.

DSV’s offer of $7.1 a share represents a premium of about 50 percent compared to the Oct. 8 closing price of UTO’s stock, DSV said in a statement on Friday. The Danish company’s shares rose as much as 7.3 percent in Copenhagen after the announcement and traded up 5.8 percent at 266.40 kroner as of 10:06 a.m. local time.

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