TAKEOVER
Huge Group trumpets risks of its rival’s Adapt IT offer
Canadian software firm Volaris has offered more money and better synergies down the road
08 April 2021 - 10:19
UPDATED 08 April 2021 - 18:55
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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