News / Gatemore boosts investment in DX Group in a bid to repel Menzies takeover

The largest shareholder of UK courier DX Group has increased its stake in a bid to scupper a reverse takeover by Menzies Distribution.

Gatemore Capital describes the Menzies plans as a “bad deal” that “tremendously” undervalues DX and would prevent it from achieving its true potential.

This morning Gatemore announced it had almost doubled its investment, to 21.34%, in the London Stock Exchange-listed courier to solidify its standing when it comes to voting on the takeover.

Chief investment officer and managing partner at Gatemore Capital Liad Meidar told The ...