By Lisa Kerner
Charlotte, N.C., Jan. 2 - General Atlantic LLC and its largest shareholder, chief executive officer and chairman James R. Crane, plan to acquire and make private EGL, Inc. for $36 per share in a proposed cash transaction.
EGL's board of directors is reviewing General Atlantic's proposal through a special committee and independent legal counsel, along with financial advisers, according to a news release.
Houston-based EGL is a global transportation, supply chain management and information services company operating as EGL Eagle Global Logistics.
General Atlantic is a private equity firm with offices in Greenwich, Conn., and worldwide.
Acquirer: | General Atlantic LLC
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Target: | EGL, Inc.
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Payment per share: | $36.00
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Announcement date: | Jan. 2
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Expected closing: | To be determined
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Stock price for target: | Nasdaq: EAGL: $29.78 on Dec. 29
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