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 […]
DX Group has declared it is on the road to recovery, after trimming its annual loss by more than £60m.
Embattled DX Group’s turnaround plans have been backed by investors, who have approved the issuing of new shares amounting to £4.76m of fundraising for the firm.
Newspaper and magazine transport firm Menzies Distribution has revealed that it is currently in talks with high street retailers about delivering other types of freight.