Iliad shareholders to vote on Steinhoff bid

Three of home improvement company Illiad’s major shareholders – Sanlam, Visio and Coronation, which held 69.25% – have agreed to vote in favour of a takeover by Steinhoff, with the company’s remaining shareholders to vote on the deal on September 29. Seventy-five per cent of the voting rights exercisable by shareholders at the scheme meeting would have to be in favour of the deal for it to go ahead.