HOUSTON, Jan. 2 /PRNewswire/ -- In response to inquiries concerning
today's announcement that James Crane, Chairman and CEO of EGL, Inc.,
(Nasdaq: EAGL) private equity firm General Atlantic LLC and members of EGL
management have proposed an acquisition of EGL's outstanding shares for
$36.00 per share, Mr. Crane confirmed that he intends to reinvest all of
his EGL stock and options into the privately-owned company if a transaction
is consummated. Mr. Crane and General Atlantic also confirmed that, if
their transaction is consummated, it is expected that Mr. Crane will be the
majority owner (51%) of EGL, Inc. As previously reported, Mr. Crane
currently owns approximately 18% of EGL's outstanding shares.
This news release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Although it is believed that the
expectations are based on reasonable assumptions, there can be no assurance
that such assumptions will materialize. Important factors that could cause
actual results to differ materially from those in the forward-looking
statements herein are enumerated in EGL's Annual Report on Form 10-K and
other filings with the Securities and Exchange Commission.
SOURCE Jim Crane
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Related links:
http://www.eaglegl.com
CONTACT:
Margaret Barradas, +1-281-618-3274, for Jim
Crane
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