Fight for Adapt IT mybroadband.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mybroadband.co.za Daily Mail and Mail on Sunday newspapers.
In what appears to be conciliatory terminology, the independent board of JSE-listed technology company Adapt IT has said that while the offer of R6.50 by Canadian firm Volaris for Adapt IT is unfair, it is reasonable to Adapt IT shareholders.
This was announced in a joint circular issued on Tuesday by Adapt IT and Volaris. The circular contains details of the rationale for the offer by Volaris, the opinion and recommendation of the independent board, and the notice of the general meeting of Adapt IT shareholders.
The board had previously said that the offer from Huge, which was unsolicited and is viewed as hostile by the company, was unfair and unreasonable. However, it has engaged Nodus Capital, the independent expert appointed to report on the fairness of the Volaris and Huge offers, to provide a revised opinion on the Huge offer.
James Herbst opens up about Adapt IT offer — and not everyone will be happy mybroadband.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mybroadband.co.za Daily Mail and Mail on Sunday newspapers.