The aquisition of Bytes Technology Group by Allied Electronics (Altron) will be a fait accompli by Wednesday (9 January) when Bytes will be delisted.
Bytes will be deleted from the FTSE and JSE boards, while Altron's listing will change to reflect the increased shareholding.
On 24 October, Altron made an offer for the shares of Bytes and Altech that it didn't already hold and early in December the offer was accepted by Bytes shareholders but rejected by Altech.
Altron with thus acquire 42,3% of Bytes, pending approval from the High Court next week.
Because Altech's minority shareholders didn't approve the scheme, it will remain as a seperately-listed entity.