|Bid||675.00 x 32800|
|Ask||0.00 x 234500|
|Day's range||698.00 - 709.00|
|52-week range||459.63 - 750.00|
|PE ratio (TTM)||86.48|
|Forward Dividend & Yield||0.25 (2.67%)|
|1y target est||N/A|
Britain's DX Group reported a 60 percent plunge in annual core earnings on Friday and the mail, parcels and courier services company warned the start of its new financial year had been "especially ...
Oct (Shenzhen: 000069.SZ - news) 9 (Reuters) - Activist investor Gatemore Capital Management said on Monday it was leading a 24 million-pound ($31 million) financing for British mail, parcels and courier services company DX Group, sending DX's shares soaring. Gatemore, DX's largest shareholder with a 23.8 percent stake, had previously opposed a plan for DX to buy the logistics arm of John Menzies (LSE: MNZS.L - news) for cash and shares in a deal which would have given Menzies majority control of the DX Group. DX Group on Monday named Lloyd Dunn as its new chief executive with immediate effect.
** Parcels and delivery company DX Group +c16% & 3rd top gainer on FTSE AIM All share index after co agrees to 24 mln stg fundraising, names new CEO ** Fund raise will come from 16.3 mln stg to be issued ...
A proposed merger deal between British mail delivery company DX Group and logistics group John Menzies (LSE: MNZS.L - news) collapsed on Monday after months of fraught negotiations, with the two sides unable to agree terms. Under the deal, DX would have bought the distribution arm of Menzies through a reverse acquisition, with DX paying 40 million pounds ($52 million) in cash and new ordinary shares representing 65 percent of its post-transaction share capital. The deal had already been revised in June following opposition to the original terms from DX's biggest shareholder, but Menzies said on Monday it had undertaken further due diligence following a trading update from DX on July 14, which convinced it the terms needed to be revised again.
British mail delivery company DX Group said on Friday its chief executive and finance director will step down with immediate effect and it will separate its operations into courier and freight divisions. The reorganisation follows DX's agreement in June to acquire John Menzies (LSE: MNZS.L - news) ' distribution arm via a reverse takeover. DX said it would split its business into DX Express and DX Freight and the reorganisation would give greater flexibility in managing costs.
DX Group said London police would not launch a full investigation of the British mail delivery firm on allegations relating to its collection and delivery service DX Exchange. The company, which is buying ...
UK mail (LSE: UKM.L - news) delivery firm DX Group is under preliminary investigation by the London police after an allegation was made against it relating to its collection and delivery service DX Exchange, it said on Friday. The company, which is preparing to buy John Menzies (LSE: MNZS.L - news) ' distribution arm, said its board had received the details of the allegation on June 7 and was co-operating fully with the City of London Police Economic Crime Directorate. "The investigation is at a very early stage," DX said in a brief statement, without giving any details of what the allegation against it was.
UK mail (LSE: UKM.L - news) delivery company DX Group agreed to acquire John Menzies (LSE: MNZS.L - news) ' distribution arm through a reverse takeover on Monday, securing backing from its largest investors after terms of the deal were revised. DX has offered 40 million pounds ($51.5 million) in cash and intends to issue new ordinary shares representing 65 percent of its post-transaction share capital, the companies said, winning over stakeholders such as Gatemore Capital Management. The boards of Menzies and DX said the deal would generate estimated annual cost benefits of about 10 million pounds and that the enlarged company would reinstate a regular dividend on completion of the transaction, taking into account the leverage, earnings growth and investment requirements of the business.
UK mail (LSE: UKM.L - news) delivery firm DX Group agreed to acquire John Menzies (LSE: MNZS.L - news) ' distribution arm through a reverse takeover on Monday, securing backing from its largest investors after terms of the deal were revised. DX has offered 40 million pounds in cash and intends to issue new ordinary shares representing 65 percent of its issued share capital as enlarged by the transaction, the firms said. Gatemore Capital Management, which holds a 21.3 percent stake in DX, had previously opposed the proposal but said it had now entered into irrevocable undertakings to vote in favour of the revised deal.
The biggest investor in UK mail (LSE: UKM.L - news) delivery firm DX Group, Gatemore Capital Management, ratcheted up its opposition to a proposed reverse takeover of John Menzies (LSE: MNZS.L - news) ' distribution arm on Friday, saying it "grossly undervalued" the firm. In a letter to the board of DX dated May 4 representing 18 percent of shareholders, Gatemore, which owns 11 percent of DX, said it was confident that a majority of investors which voted would reject the deal.
The biggest investor in UK mail delivery firm DX Group, Gatemore Capital Management, ratcheted up its opposition to a planned reverse takeover deal with John Menzies on Friday, saying it "grossly ...
John Menzies (LSE: MNZS.L - news) said it was in talks to sell its distribution arm in a reverse takeover deal with UK mail (LSE: UKM.L - news) delivery firm DX Group, which DX's top shareholder said was a "bad" proposal. DX Group warned on profit last month citing challenges in the courier market and margin pressure in its freight unit, and activist investor Gatemore Capital Management argued a reverse takeover of Menzies would inflate debt without fixing DX's issues.
Oct 28 - John Menzies has reported 92.9% take-up for its £75.2m rights issue that will be used to part-finance the US$202m acquisition of ASIG from BBG Aviation, which it hopes will strengthen its position ...