Blacksheep Master Fund News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Adapt IT has brushed off a takeover bid by the Huge Group as too low, saying the offer from the telecoms and fintech company is “unfair and unreasonable” to its shareholders.  In its formal response circular to shareholders, the technology group said following a review of Huge’s offer by an independent expert, an independent board appointed by the company determined that a fair price range for Adapt IT was between R7 and R9.09 per share and that Huge’s offer was materially below that range.  The move comes after the company’s shares took a drubbing on news that CEO Sbu Shabalala h...

Apr 23, 2021 Adapt IT has notified shareholders that Volaris has obtained irrevocable undertakings from Adapt IT shareholders holding 44,4% of Adapt IT shares, to vote in favour of a Volaris acquisition offer. On 7 April, Volaris and Adapt IT confirmed that Volaris had made an offer to acquire up to 100% of the issued ordinary shares (excluding treasury shares) of Adapt IT. Volaris has now received an irrevocable undertaking from Blacksheep Master Fund, an Adapt IT shareholder, confirming its undertaking to vote in favour of the offer. This brings the percentage of shareholders committed to v...

Dublin-based hedge fund builds stake in Adapt IT Adapt IT’s head office in Midrand, Johannesburg Who is buying JSE-listed Adapt IT shares at or above the R6.50/share offer price tabled earlier this month by Canada’s Volaris Group? A disclosure by Adapt IT to investors on Friday may have shed some light on this question. Blacksheep Master Fund, controlled by Dublin, Ireland-based hedge fund manager Blacksheep Fund Management, has in recent weeks acquired almost 10 million Adapt IT shares, or 7.2% of the number of securities in issue, excluding shares held in the company’s treasury (6.28%...