EGL's special committee to continue to seek strategic alternatives

By Lisa Kerner

Charlotte, N.C., Feb. 12 - The special committee formed by EGL, Inc.'s board of directors to review the proposal originally made by General Atlantic LLC and James R. Crane, EGL's largest shareholder, will continue evaluating strategic alternatives.

The committee authorized its financial adviser, Deutsche Bank Securities, to solicit interest from third parties for the sale of the company, independent of any other offers Crane may present.

Crane, EGL's chief executive officer and chairman of the board, and General Atlantic had proposed acquiring EGL for $35 per share.

General Atlantic withdrew as an equity sponsor based on an expected shortfall in EGL's fourth-quarter 2006 results, according to a company news release.

Houston-based EGL is a global transportation, supply chain management and information services company.

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