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Suitor Huge Group raises the stakes in battle for Adapt IT
Adapt IT shares jump as Huge Group ups its offer to R1.3bn
28 May 2021 - 16:28
UPDATED 30 May 2021 - 22:58
The battle for local technology company Adapt IT took another twist as one of its suitors increased its offer by more than 60%, valuing the firm at R1.3bn and sparking speculation about whether a Canadian company will do the same with its bid.
Shares in the company, whose founder and CEO Sbu Shabalala is on extended leave due to allegations about his private life, jumped after Huge Group said it was increasing its offer, which initially valued Adapt IT at R800m...
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