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The offer was communicated on Wednesday afternoon to Adapt ITâs board. 11:00
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Huge Group has launched a takeover bid for fellow JSE-listed technology company Adapt IT, a surprising move at face value given that Huge focuses on telecommunications and Adapt IT on software and IT services.
The all-share bid, at an offer price of R5.52/share that values Adapt IT at R795-million, does not enjoy the explicit support of Adapt ITâs board. However, itâs not immediately clear if the approach will be considered hostile by Adapt IT, whose management team is led by CEO Sbu Shabalala.