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. The revised deal, which sees the price of the deal slashed from £60m to £40m, has removed the opposition of major DX shareholder Gatemore Capital Management, which earlier this year had threatened to block the deal unless the offer was improved, increasing its shareholding to facilitate this. Under the revised offer, DX Group […]
The extraordinary general meeting called for by a DX Group shareholder has been cancelled after the delivery company announced its intention to buy Menzies Distribution.
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”.