Mustek`s 80c per share offer to Rectron shareholders, which if accepted will see Rectron being delisted, opened this morning.
If the offer, which closes on 14 May, is successful, Rectron`s listing will be suspended on 17 May and terminated on 28 June.
Mustek needs holders of 90% of the shares, other than those held my Mustek and its management, to accept the offer before it can delist Rectron.
The offer is also conditional on acceptance with regard to 90% of the offer shares.
The group said last month that it had received irrevocable undertakings from shareholders owning 88.1% of the offer shares that they will accept the offer.
The Rectron share, which was trading at 50c before the offer was announced last month, was untraded at 76c on the JSE this morning. This was unchanged from yesterday`s close.
The Mustek share was trading unchanged at 315c.
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Mustek to delist Rectron
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