Buyout house Apollo Management has raised its offer for global logistics company EGL Inc. to $41 a share, and in an unusual twist, filed a lawsuit Tuesday against the target and its directors, claiming the bidding process has been rigged to favor a rival bid involving insiders.
EGL, which operates under the name EGL Eagle Global Logistics, agreed March 18 to go private in a deal led by its chairman and CEO James Crane and private equity firms Centerbridge Partners and Woodbridge Co. The buyers offered $38 a share.
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