'Factually Incorrect And Baseless': Delhivery Denies Gati Acquisition Talks

Logistics firm Delhivery has clarified that it is not in talks to acquire rival Gati, tossing aside media reports that suggested the two firms had been in discussions for months.

What Happened? In a late-night filing to the Bombay Stock Exchange, Delhivery categorically denied reports that it was looking to takeover competitor Gati amid a dip in the former’s revenue in the last fiscal year.

Calling the report “factually incorrect and baseless”, Delhivery said in the filing that there had been “no such discussions whatsoever.”

See Also: Paytm’s New Software Kit Enables In-App UPI Transactions For Merchants

It had been reported that Delhivery was looking to complement its strong presence in air cargo with Gati’s stronghold in trucking.

Delhivery has previously acquired Spoton Logistics and Algorhythm Tech. It has also bought stakes in software firm Vinculum.

Read Next: Infosys’ New AI Offering ‘Topaz’ Is Already Turning Heads

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesNewsAsset SalesMarketsDelhiveryGati
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!