AFTER rejecting ASTAR Air Cargo’s approach last July to merge and bring DHL’s freighter fleet in the US under one roof, ABX has come under attack from one of its major shareholders, accusing the company of not acting in the best interests of stakeholders.

Red Mountain Capital Partners, ABX Air’s second largest shareholder, has “strongly” encouraged the company board of directors to negotiate with ASTAR Air Cargo.

ABX’s board had previously unanimously turned down a buy-out proposal by ASTAR stating that it was "not in the best interest of ABX stockholders".

Willem Mesdag, managing partner of Red Mountain Capital Partners, wrote to ABX chairman, James H Carey, stating that the company "strongly encourage you to act in your shareholders’ interest by engaging in serious and constructive negotiations with [ASTAR] to consummate a transaction that maximises shareholder value".

He added that he was not certain that the ABX board was committed to maximising shareholder value.

Both ABX and ASTAR are used by DHL as its main carriers of overnight parcels in the US and are both based at DHL’s hub in Wilmington.