Silk Logistics (ASX:SLH) entered into a scheme implementation deed with DP World Australia for the full acquisition of Silk's shares on issue through a scheme of arrangement, according to a Monday filing with the Australian bourse.

Under the arrangement, Silk shareholders will receive cash consideration of AU$2.14 per share, excluding dividends declared or paid before implementation of the scheme, the filing said.

The board unanimously recommended that Silk shareholders vote in favor of the scheme subject to an independent expert's report and in the absence of a superior proposal, according to the filing.