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DHL to Anchor Worlds Largest Logistics Group

Thomond Pk · 2005-09-05 10:20:21

Deutsche Post moves on Exel By Lina Saigol in London and Richard Milne in Frankfurt Published: September 4 2005 22:01 | Last updated: September 4 2005 22:01 Top executives at Exel were last night meeting to discuss a preliminary takeover proposal by Deutsche Post that values the UK logistics company at £3.6bn (€5.9bn) and…

05-09-2005 10:20am

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Thomond Pk

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Join Date: April 2005

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Deutsche Post moves on Exel
By Lina Saigol in London and Richard Milne in Frankfurt
Published: September 4 2005 22:01 | Last updated: September 4 2005 22:01

Top executives at Exel were last night meeting to discuss a preliminary takeover proposal by Deutsche Post that values the UK logistics company at £3.6bn (€5.9bn) and could create the world's biggest logistics group.

The German postal group is understood to be offering a mix of cash and shares that values Exel at just above £12 a share. It has also proposed cost synergies of €200m a year and has offered John Allan, chief executive of Exel, a place on Deutsche Post's management board to head its logistics division.

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