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.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]