A common thread in the logistics sector is the impact e-commerce demand is having on M&A. As consumers expect more options at lower prices, M&A has regularly been seen as a solution for logistics providers to increase density and improve efficiency, the latter often via technology.

The trend is evidenced by recent statistics - global transportation and logistics M&A in Q2 2017 rose 127% on Q1 and 26% year on year, with a total deal value of $45.1bn. The shipping and logistics sub-sector saw the highest deal volume in the past three years.

And there's little sign of the pace slowing. XPO logistics, the US contract logistics provider, recently announced an $8bn war chest set aside for investments, with smaller targets also being snapped up on a regular basis. Plenty of reason for shareholders to feel optimistic if they are looking to realise value in the short to medium term.