DX Group’s largest shareholder has slammed the proposed acquisition of John Menzies Distribution, deeming it a bad deal for shareholders, an attempt to distract from “terrible” operating results and a “face saving exercise for the DX board”. The proposed deal, announced this morning, would see DX Group buy the distribution arm of Menzies for a cash consideration of £60m and the release of new DX shares. Trading of DX shares ceased at 7.30am until the deal is either confirmed or […]
A 90% plummet in DX Group’s share price has prompted its largest shareholder to call for the removal of two board members for their “inexcusable” performance.
DX Group sales and marketing director Paul Doble has warned that online retailers are in danger of overwhelming capacity on their distribution networks in the run up to Christmas. Financial services firm Experian has predicted a 36% rise in online retail visits today and Doble said retailers should re-assess their delivery capabilities. Carriers are offering collection two working days before Christmas. TNT Express, DPD, FedEx, Hermes and UK Mail all said that 21 December is the last day they can […]