5th Jul 2016 07:24
LONDON (Alliance News) - Parcels, mail and logistics company DX Group PLC on Tuesday said the UK's Competition & Markets Authority is reviewing its acquisition of The Legal Post (Scotland) Ltd and First Post Ltd.
DX struck a deal to acquire the pair from First Scottish Group Ltd for GBP3.3 million in cash in May. Legal Post provides document exchange and postal services in Scotland, while First Post operates a mail service in Scotland competing with Royal Mail PLC.
DX said it is now engaged in a consultation with the CMA, the UK's competition regulator, and will make a further announcement in due course.
Shares in DX were down 16% to 14.25 pence on the news.
By Sam Unsted; [email protected]; @SamUAtAlliance
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