UK DX Mail could be GBP250m bid target

The private equity firm HG Capital is understood to be preparing a pounds 250m bid for the DX Mail business of the recruitment specialist Hays, which last week said it was planning to demerge it as a separately listed stock market company. DX specialises in business-to-business mail services in the UK and Irish Republic, delivering more than 1 million items a day and employing 1,200 people. The company expects to benefit from the recent deregulation of the UK postal market.