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 […]
Wincanton has built on its relationship with Ikea with a new three-year home delivery contract.
Moves are underway to split print media and parcel logistics firm Menzies Distribution from its sister air cargo and baggage handling business Menzies Aviation.
DX Group is being investigated by City of London Police, after an allegation was made against its Exchange business on 7 June.