Huge Group has slammed a rival takeover offer for Adapt IT as facing risks and robbing shareholders of participating in future share price moves after a Canadian competitor trumped its all-share bid with a R1bn cash offer.

The battle for software group Adapt IT intensified this week after Canada’s Volaris made a R6.50 per share offer, or a 56% premium on the IT group’s closing share price on April 1, throwing into doubt an R800m, all-paper takeover offer from Huge Group and sending shares in Adapt IT surging almost 40% on Thursday...

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