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EGL Inc receives proposal from Apollo Management L.P.

Tue Mar 20, 2007 9:01pm EDT
Co announced today that the Special Committee of its Board of Directors has received a written proposal, dated March 19, 2007 from Apollo Management L.P. expressing its interest in the acquisition of EGL, Inc. for $40.00 per share, subject to certain conditions, including expedited confirmatory due diligence. The Special Committee determined that, under EGL's Merger Agreement with an affiliate of James R. Crane, Apollo's proposal is an alternative proposal. Accordingly, the Special Committee has also informed the Crane Affiliate of the existence of the proposal, and has made arrangements so that Apollo may conduct its due diligence investigation with respect to its proposal.



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