March 31, 2017 / 6:43 AM / in 5 months

Mail delivery firm DX Group in talks to buy John Menzies' unit

March 31 (Reuters) - Mail delivery firm DX Group Plc said it was talks to buy airport services and logistics group John Menzies' distribution division in a cash-and-stock deal.

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 Gayathri)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below