Adapt IT flags earlier tie-up with Volaris
Canadian software firm appears to be on track to fend off a rival bid from Huge Group
18 October 2021 - 20:13
Adapt IT has made progress in completing a tie-up with Canadian software player Volaris, the technology group said, prompting it to consider moving forward the date to complete a transaction mired in a bidding war.
Volaris appears to be on track to fend off a rival bid from Huge Group for the R900m Durban-based company after sweetening its bid to R7 per share. This followed a shareholder vote in July when it failed to secure more than the 50% it needed, due to a lower turnout amid grumbling that its offer undervalued the company. ..
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