March 31 Mail delivery firm DX Group Plc
said it was talks to buy airport services and logistics
group John Menzies' distribution division in a
DX Group proposed to pay 60 million pounds ($74.8 million)
in cash and issue of new ordinary shares representing 80 percent
of DX's issued share capital after the deal closes, the
companies said in a statement.
The companies said they expected the cash- and debt-free
transaction to complete in the summer, but warned that there can
be no certainty that a transaction would occur.
($1 = 0.8021 pounds)
(Reporting by Rahul B in Bengaluru; Editing by Amrutha