Alltex Fabrics Limited agreed to acquire Alltex Industries Ltd. (DSE:ALLTEX) on January 21, 2016. Under the terms of the agreement, Alltex Fabrics Limited will issue 0.3 share for 1 share of Alltex Industries Limited. The deal is subject to approval of Supreme Court of Bangladesh, approval by shareholders of Alltex Industries and approval from all legal/regulatory authorities. As of January 23, 2016, Board of Alltex Industries Ltd. approved the transaction. The shareholder meeting of Alltex Industries will be held on March 19, 2016. Alltex Fabrics Limited cancelled the acquisition of Alltex Industries Ltd. (DSE:ALLTEX) on January 22, 2017. The board has decided to withdraw the application of Amalgamation between Alltex Industries Limited (AIL) with Alltex Fabrics Limited (AFL) which was previously submitted to the Honorable High Court Division of the Supreme Court of Bangladesh.