DX Group shareholders controlling almost a fifth of the company have signed a letter demanding the board terminates discussions with John Menzies about a proposed takeover, unless the deal is improved significantly. The letter, written by DX Group’s largest shareholder Gatemore Capital Management, clarifies its objection to the transaction with John Menzies and states that it will block the deal unless it was improved. It said the proposed reverse merger “grossly undervalues DX and its potential to recover from the current […]
Imminent strike action at Menzies Distribution has been suspended after the company made an improved pay offer, Unite said today.
DX Group’s pre-tax profit crashed 75% year-on-year in the six months ending 31 December 2016, it revealed today.
The DX Group shareholder leading the charge against the company’s proposed acquisition of John Menzies’ distribution arm has increased its holding in the company by 10%.