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EGL CEO makes buyout offer

By Dave Hannon -- Purchasing, 1/3/2007 8:25:00 AM

Logistics firm EGL has received a buyout offer from its CEO James Crane and private equity firm General Atlantic. According to a statement issued directly by Crane, the offer would price Houston-based EGL at $36 per share and Crane would continue as chairman and CEO following the transaction.

According to a Reuters story, the board of directors at EGL, an air and ocean freight forwarder, has formed a special committee of independent directors to review the proposal.

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