Ceva Logistics AG, a Swiss listed logistics company, rejected 1.53 billion Swiss francs ($1.55 billion) offer from DSV A/S, Danish-listed transport and logistics company. Ceva said that this cash bid undervalued the company. Danish freight forwarder DSV offered 27.75 francs per share for Ceva in cash, a 50 per cent premium to the previous close of 18.42 francs. CMA CGM spokeswoman said the company, which is the biggest shareholder in Ceva Logistics at stake just under 25%, would consider raising its shareholding in Ceva.