Shareholders in Exel today approved the company’s acquisition by Deutsche Post World Net (DPWN)by an overwhelming 98 per cent majority at an extraordinary general meeting (EGM). The vote clears
the way for DPWN to buy the company under its recommended offer worth 5.5 billion euros.US anti-trust authorities have also given their backing for the transaction by declaring thatthey have no objections. DPWN said the transaction is now expected to go through in mid-Decemberonce a UK court has confirmed the transaction details and other competition bodies give theirapproval.
The acquisition of Exel will make DPWN into the world’s largest logistics company and worldwidemarket leader in contract logistics, air and ocean freight. The company is already express marketleader through DHL Express.
