The DX Group shareholder leading the charge against the company’s proposed acquisition of John Menzies’ distribution arm has increased its holding in the company by 10%. Gatemore Capital Management has upped its shareholding in the company from 11% to 21% in a bid to strengthen its position against the proposed deal and DX’s management team. DX froze its shares on the AIM on 30 March after announcing it was in talks to buy Menzies, a move which Gatemore described as […]
DX, which listed on AIM in February, has said that the focus for the next three years will be the turnaround of the former Nightfreight business, which is now called DX Freight.
The CEO and financial director of DX Group have stepped down with immediate effect after what the business described as an “exceptionally difficult year”.
The DX Group and John Menzies Distribution merger could be sealed this summer after both boards approved a revised offer that satisfies objections from a major shareholder.