European Commission clears DPWN takeover of Exel

The European Commission has given unconditional clearance to the proposed acquisition of Exelplc by Deutsche Post. The German postal, express and logistics group said that the EU executive had

The 5.5 billion euro acquisition has already been approved by Exel shareholders and UScompetition authorities. The transaction now requires legal approval in the UK. Deutsche Post saidit expects the transaction to be completed in mid-December, with the last day of dealing in Exelshares scheduled for December 9.