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Canada-based Volaris makes audacious bid for AdaptIT controlling stake

Adapt IT said yesterday it had entered in an agreement with Volaris to make an offer to acquire up to 100 percent of Adapt IT for a cash consideration of R6.50 per Adapt IT share. Picture: Ian Landsberg/African News Agency(ANA) Canada-based Volaris makes audacious bid for AdaptIT controlling stake By Edward West Share CAPE TOWN - Adapt IT said yesterday it had entered in an agreement with Volaris to make an offer to acquire up to 100 percent of Adapt IT for a cash consideration of R6.50 per Adapt IT share. The consideration represented a premium of 56.9 percent to the 30-day volume weighted average traded price of Adapt IT shares of R4.14, as at January 26, 2021, being the last trading date prior to the date on which an unsolicited general offer by Huge Group to Adapt IT shareholders was announced.

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