NEW YORK, NY, (NAMC) - In 2006 private equity transactions ruled the headlines and as the street pronounced at the end of 2006 this is something that will show some follow through in 2007. Just today the CEO and Chairman of the Board of EGL, Inc. (NASDAQ:EAGL) stated that members of senior managment and their private equity partner, General Atlantic LLC, have submitted a proposal to the board of EGL to acquire all of the outstanding common shares of the company at a price of $36 per share in cash.

Crane and his senior management are not sitting on the sidelines waiting for a handout, they have actually put their money where their mouth is and made a significant equity commitment towards this transaction. Crane is slated to continue to be the CEO of the company and they have already received strong letters of commitment from Bank of America Securities (NYSE: BAC), Goldman Sachs (NYSE: GS), and Merrill Lynch (NYSE: MER) for a possibly debt financing to the tune of $1.125 billion.

This tender offer is about 20% or so above Friday's closing price of $29.78. This is one to watch when the market opens after this extended holiday.

J.C. Arens
Business News Correspondent
NAMC Newswire
www.namcnewswire.com

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