BEST Inc. Shareholders Approve Merger Agreement
HANGZHOU, China, Feb. 18, 2025
By: PR Newswire
BEST Inc. (NYSE: BEST), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, announced that at an extraordinary general meeting of shareholders held on February 18, 2025, shareholders voted in favor of authorizing and approving the Merger Agreement. The Merger Agreement, dated as of June 19, 2024, involves BEST Global Partners and Phoenix Global Partners merging with the company, making BEST a wholly owned subsidiary of Parent.
Over 62% of the Company’s total outstanding class A, class B, and class C ordinary shares voted at the meeting.
This merger represents a significant development for BEST Inc., aligning the company with global partners to strengthen its position in the smart supply chain solutions and logistics services industry. The merger is expected to bring about strategic benefits and opportunities for growth for BEST Inc. in the future.
Shareholders and industry experts are optimistic about the potential synergies and enhanced capabilities that could arise from the merger. The Company’s continued focus on innovation and customer satisfaction is expected to drive further success in the industry.
Impact on Me
As a shareholder of BEST Inc., the approval of the Merger Agreement could have a direct impact on my investment. It is essential to closely monitor the developments following the merger and assess how it may affect the company’s financial performance and stock value in the future.
Impact on the World
The merger of BEST Inc. with global partners signifies a growing trend of consolidation and collaboration in the supply chain and logistics sector. This move may influence industry dynamics and competition, potentially leading to innovations and advancements in the delivery of goods and services on a global scale.
Conclusion
In conclusion, the approval of the Merger Agreement by BEST Inc. shareholders marks a significant milestone in the company’s strategic growth journey. The merger paves the way for new opportunities and advancements in the smart supply chain solutions and logistics services industry, positioning BEST Inc. for continued success and expansion in the market.
