South African shares closed stronger on Monday as investors welcomed a takeover deal by industrial and retail group Steinhoff.
The Johannesburg Top-40 index of blue-chip stocks gained 1.36 percent to 23,579.07 points while the All-share index added 1.25 percent to 26,161.53 points.
The trader said there was no real market moving news on Monday outside of Steinhoff's 15 billion rand all-share offer to buy retailer JD Group.
Under the terms of the deal, JD Group shareholders will receive 3.6 Steinhoff shares for each JD share
Read more at Reuters South Africa
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