Menzies “considering its position” in light of DX police investigation

The board of John Menzies has announced that it is “considering its position” in the light of the police investigation into the DX Exchange operations. In a statement issued today (9 June), the John Menzies board added that it will “make a further announcement as and when appropriate”.

As previously reported, the boards of John Menzies and DX Group have a reach an agreement over a proposed merger of Menzies Distribution and DX – but the agreement is still subject to approval from their shareholders and other controls.

However, the news that the City of London Police are investigating the operators of DX’s DX Exchange could affect the pace, if not the outcome, of the deal.

Earlier today DX issued this brief statement about the police probe:  “The Board of DX announces that it has been notified by the City of London Police Economic Crime Directorate (“City of London Police”) of an allegation that has been made against the Company which has resulted in the commencement of a preliminary investigation centred on the DX Exchange operations. 

“The investigation is at a very early stage. The Board of DX received the details of the allegation on 7 June 2017 and is co-operating fully with the City of London Police.”

The DX Exchange service

DX Exchange is a next-day B2B service for the delivery of documents among the 25,000 members of the network.