EGL shareholders to decide CEVA merger on July 31

By Lisa Kerner

Charlotte, N.C., June 26 - EGL, Inc. shareholders will vote on the company's proposed merger with CEVA Group plc at EGL's annual meeting on July 31.

The company has set the close of business of June 11 as the record date for the meeting, according to a company news release.

On May 24, CEVA, owned by Apollo Management VI, LP, said it will acquire EGL for $47.50 per share in a transaction valued at about $2 billion. The agreement, which was approved by EGL's board, includes a $20 million termination fee.

EGL terminated its previous merger agreement with its largest shareholder and chief executive officer James R. Crane and his affiliates including Centerbridge Partners, LP and the Woodbridge Co., Ltd. The company paid a $30 million fee to the Crane group in connection with the termination.

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

CEVA (formally known as TNT Logistics) is a Hoofddorp, Netherlands-based logistics and supply chain management company.

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