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 said it has successfully raised approximately £200.5m through selling shares on AIM this morning, following a 3% increase in turnover for the first six months of its current financial year.
Menzies Distribution has bought fully electric final-mile delivery firm Gnewt Cargo for an undisclosed sum.
The logistics industry has welcomed the proposals in the Taylor review into self-employed workers as a sensible, half-way house that would provide those in the ‘gig economy’ more security while still affording businesses the flexibility they require.