HOUSTON, Jan. 18 /PRNewswire-FirstCall/ -- EGL, Inc. (Nasdaq: EAGL)
announced today that the Special Committee of its Board of Directors has
retained Deutsche Bank Securities, Inc. as financial advisor to assist in
evaluating and acting upon the previously announced proposal from James R.
Crane, the Company's largest shareholder, Chief Executive Officer and
Chairman of the Board, certain other members of senior management and
General Atlantic, LLC to acquire the outstanding publicly-held shares of
common stock of the Company.
The Special Committee previously retained the law firm of Andrews Kurth
LLP as its legal advisor. The Board of Directors cautions the Company's
shareholders and others considering trading in its securities that it has
only received the proposal and that no decisions have been made by the
Board of Directors with respect to the Company's response to the proposal.
There can be no assurance that any definitive offer will be made, that any
agreement will be executed or that this or any other transaction will be
approved or consummated.
The Company will have no further comment at this time.
Founded in 1984, Houston-based EGL, Inc. operates under the name EGL
Eagle Global Logistics. EGL is a leading global transportation, supply
chain management and information services company dedicated to providing
superior flexibility and fewer shipping restrictions on a price competitive
basis. With 2005 revenues of $3.1 billion, EGL's services include air and
ocean freight forwarding, customs brokerage, local pickup and delivery
service, materials management, warehousing, trade facilitation and
procurement, and integrated logistics and supply chain management services.
The company's shares are traded on the NASDAQ Global Select Market under
the symbol "EAGL".
SOURCE EGL, Inc.
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Related links:
http://www.eaglegl.com
CONTACT:
Mike Slaughter, Vice President Finance of
EGL, Inc., +1-281-618-3428
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