Deutsche Post is expected to announce Monday that it has bid $6.73 billion for Great Britain-based Exel,
The New York Times
reports. Citing sources close to the deal, the
says that the deal will consist of stock and cash, and represents only a slight premium over Friday's closing price for Exel shares, but neither company would comment.
Bonn-based Deutsche Post owns shipper DHL. Exel contracts with major corporations such as
for shipping and warehousing functions.
had been seen as a possible rival to Deutsche Post for Exel, but the
reports that no hostile bid is expected.