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 […]
DX Group’s new management team said last week that its turnaround strategy was gathering pace at the embattled business.
The deal that would have see DX Group acquire Menzies Distribution has been called off, and a new board of directors is set to be installed at DX under the guidance of its largest shareholder – Gatemore Capital Management.
DX Group’s pre-tax profit crashed 75% year-on-year in the six months ending 31 December 2016, it revealed today.