Adapt IT receives support from 44% of shareholders for Volaris offer
The offer from Volaris values Adapt IT at about R1bn
Technology company Adapt IT says it has received firm intentions from close to half its shareholders to accept a buyout offer from Canada’s Volaris.
Earlier this month, Adapt IT received an offer for 100% of its shares by Volaris, which a part of Constellation, a Canadian technology conglomerate valued at $40bn. The company has offered R6.50 a share, which represents a premium of 56.3% to the closing price of Adapt IT’s shares as at April 1...