Adapt IT needs more time to consider Huge and Volaris offers
The software company’s independent panel now has to give an opinion on the merits of the Volaris deal by May 7
30 April 2021 - 18:36
Technology firm Adapt IT said on Friday its independent board, tasked with considering two buyout offers for its business, needs more time to do its job and has extended its deadline to next week.
Earlier in April, Adapt IT received an offer for 100% of its shares by Volaris, which is a part of Constellation, a Canadian technology conglomerate valued at $40bn (R579bn). 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...
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