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.
EGL shareholders back Ceva bid
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