Deutsche Post AG receives clearance from the European Commission for its proposed acquisition of Exel plc11/24/2005, 12:00 AM CET
The Board of Deutsche Post AG ("Deutsche Post") announces that the European Commission today gave unconditional clearance to the proposed acquisition of Exel plc by Deutsche Post under the EC Merger Regulation.
Completion of the Offer remains subject to the satisfaction or, if permitted, waiver of the remaining conditions to the Offer set out in the Scheme Document, including, inter alia, the sanction of the Scheme by the Court and the reduction of capital. The hearing of the petition to the Court to sanction the Scheme and to confirm the reduction of capital is expected to take place on 9 December 2005 and 12 December 2005 respectively. It is expected that the last day for dealings in Exel Shares will be 9 December 2005 and that the Scheme will become effective on 13 December 2005.