If closest possible export of grid content in excel is desired then this format is one of the options.
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There is a little known format that MS Excel can read and write -- it is
called SYLK. (see "save as" in Excel). Like CSV, it is text based, but
unlike CSV, it allows to specify as a cell contents not just numeric or text
data, but also formula, and formatting. It also allows to group cells
together.
- [Jprogramming] Grid API Usability Andrew Nikitin
