Adapt IT shareholders will have to wait a little longer for Volaris Group’s acquisition offer circular, after the Takeover Regulation Panel granted the company an extension to evaluate the offer. The local technology company has captured the interest of Canada’s Volaris, which announced its intention to procure 100% of the company on a R6.50 per share cash offer. Volaris’ offer came after one made by South African telecoms company, Huge Group, which is offering shareholders a share swap based on a reference price of R6.13 and an implied price of R5.52 per Adapt IT share.
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