DiData buyout of Oakton approved

Dimension Data's bid to take over Oakton has been approved

Consulting and technology firm, Oakton Ltd (ASX:OKN), confirmed today that the company’s acquisition by information technology services company, Dimension Data, had been given the go ahead by the Supreme Court of Victoria.

Documents are expected to be lodged with ASIC on Monday, November 10, and shares to be suspended from close of trading on the same day.

Shares were trading fractionally below Dimension Data’s offered buyout rate of $1.90, albeit at very low volumes. Shareholders who held Oakton shares in August have seen a 35 per cent increase in their value.