Menzies merger partner DX avoids full probe by City police
The firm said the police force’s economic crime directorate would not press ahead with an in-depth probe into DX Exchange after considering the allegations made.
DX said it had co-operated with the preliminary investigation and made changes to the “internal business processes” of the operation, which will remain under review.
A spokesman at City of London Police said: “After careful consideration we have concluded that we do not consider it is in the public interest to progress to a full investigation.
“We continue to work with DX management to highlight our concerns over a number of business processes within the lower levels of the company”.
DX Exchange is the firm’s private document delivery service, described as a “private club” that serves more 25,000 clients across the UK and Ireland. It handles documents such as contracts, deeds, property settlements, financial agreements and barrister’s briefs.
• READ MORE: DX investor backs revised terms for Menzies tie-up
The update comes as the logistics firm remains in the midst of a planned merger with Menzies Distribution.
Following the announcement of the police’s preliminary investigation, John Menzies said it would “consider its position” on the deal.
The tie-up had also come under pressure from activist investor Gatemore, which only dropped its opposition to the merger last month after the pair revised terms.
Shares in DX have been suspended since March, when the proposed tie-up was announced.