New York, Feb 18, 2026, 09:10 (EST) — Premarket
- ZIM ticked up 0.5% premarket, building off a sharp 25% surge from the previous session.
- Hapag-Lloyd has struck a deal to acquire ZIM at $35 per share in cash, putting ZIM’s valuation near $4.2 billion.
- ZIM workers in Israel have ramped up their strike, piling on new deal risk.
Shares of ZIM Integrated Shipping Services Ltd (NYSE: ZIM) ticked 0.5% higher to $27.99 in U.S. premarket action Wednesday, after ending at $27.85 the previous session. Early trading saw the stock move in a narrow band between $27.92 and $28.00, Public.com data show. (Public)
ZIM shares are still trading about $7 under Hapag-Lloyd’s $35-per-share cash bid—a roughly 20% discount that suggests investors are wary, not popping champagne. The company put the deal’s value near $4.2 billion, targeting a closing date by late 2026, with shareholder and regulatory sign-offs still needed. That includes approval from Israel, which holds a “special state share” granting it sway over certain major matters. “Since our IPO in January 2021, we have distributed an extraordinary $5.7 billion in dividends,” CEO Eli Glickman said. (ZIM Investors)
Hapag-Lloyd framed the merger as a quick way to scale up in a sector where bringing in new ships isn’t exactly rapid, touting “several hundred million USD” in yearly synergies. CEO Rolf Habben Jansen described ZIM as “an excellent partner for Hapag-Lloyd.” The company expects the merged fleet to surpass 400 ships and break the 3 million TEU mark—a 20-foot container unit that’s the industry’s yardstick. For now, both lines stick to their own operations until the deal is finalized. (Hapag Lloyd)
Even so, this isn’t a straightforward arbitrage opportunity. According to Reuters, Hapag-Lloyd plans to tap its own cash reserves as well as up to $2.5 billion in outside financing for the buyout, while Israel’s competition authority intends to scrutinize the merger. Analysts at JPMorgan called it “a play to gain extra capacity near term.” But Haifa’s mayor has come out against the deal, warning that moving ownership overseas is “problematic to say the least.” (Reuters)
In Israel, the labour dispute has become the main flashpoint. ZIM employees ramped up their strike, Reuters reported, with union leader Ziva Lainer Schkolnik declaring: “Since this morning, we are not allowing any kind of activity.” Haifa and Ashdod ports are seeing disruptions, and ships now sit idle, waiting to be unloaded. The union claims management’s “New ZIM” plan would trim the workforce to just 120. Hapag-Lloyd, for its part, told Reuters it intends to negotiate job security “in good faith” after the deal closes. (Reuters)
Speaking to Israeli news site Calcalist, ZIM chairman Yair Seroussi outlined how the bidding unfolded, mentioning Maersk’s involvement and noting the company pushed its offer up to $30, while Hapag-Lloyd went higher, reaching $35. Seroussi added that it could take 9–12 months for approvals to come through. (ctech)
The $35 spread is what traders are watching. Routine approvals and a calm strike could pull that gap in fast. Otherwise, shares risk slipping toward pre-rumor levels—a sharp shift from “takeover stock” to “shipping stock.”
The risks aren’t hard to spot: Israel could reject the state-share setup, strikes could drag on, or regulators might slow-walk their decisions until 2027. The timeline’s already stretched, giving freight markets—and investor sentiment—ample room to change course.
Next session, eyes are on ZIM to see if it sticks around $28—and if chatter about the deal discount starts to shift as specifics on jobs, the “New ZIM” carve-out, and the state-share approval process trickle out. A word from Israeli officials or fresh developments in the strike might hit the stock harder than another batch of deal headlines.
Up ahead, the procedural gears start turning: proxy materials and a timeline for the shareholder vote, then Israel’s regulators take their first swing. The companies are sticking to late 2026 as their estimate for getting sign-off and sealing the deal.
