EGL shareholders back Ceva bid

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Shareholders in EGL have approved the takeover by Ceva at a meeting in Houston, Texas. The deal is expected to be completed on 2 August.
Under the terms of the agreement EGL’s shareholders would be entitled to receive $47.50 in cash, without interest, for each share of EGL common stock they own.
Founded in 1984, Houston-based EGL operates under the name EGL Eagle Global Logistics. With 2006 revenues of $3.2 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.

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