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 […]
DX Group has issued a profit warning, citing the shortage of HGV drivers as a key factor in driving up costs.
TNT Express UK & Ireland has confirmed around 50% of TNT Fashion Group UK’s dedicated network of distribution sites will be integrated into existing TNT Express sites as part of the DC rationalisation announced in January.