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DHL to Anchor Worlds Largest Logistics Group

  • 05-09-2005 10:20AM
    #1
    Thomond Pk
    Closed Accounts Posts: 449 ✭✭


    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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