Deutsche Post set to seal acquisition of Exel shortly

0 Comments | AFP, September, 2005

FRANKFURT (AFP) — Plans by Deutsche Post, the semi-privatised German postal service, to take over British logistics group Exel are much further advanced than the companies have indicated and a deal could be finalised within the next few days, the Financial Times Deutschland reported.

On Thursday, Deutsche Post had said it was in talks with Excel "with a view to making a possible takeover offer".

But the German company insisted that the talks were still at a very early stage and "there can be no certainty as to their outcome".

However, FT Deutschland quoted sources close to the companies as saying that the two sides had already reached broad agreement on the takeover terms and that a deal could be signed and sealed "within a few days".

Exel employs...