Menzies board still keen on DX deal

Following the announcement that the City of London Policy has dropped its investigation into DX Exchange, the Board of John Menzies has confirmed that it is still looking for a tie-up with DX Group. In a statement issued on Friday (7 Jully), Menzies said: “The Board of John Menzies continues to believe that the combination of DX and John Menzies’ Distribution division has strong strategic logic for all stakeholders and that the Transaction represents an opportunity to deliver significant value.

“Discussions between John Menzies and DX are ongoing and a further announcement will be made as and when appropriate.”

However, Menzies sounded a cautionary note, pointing out that “there can be no certainty that a transaction will occur”.