Suhail Jute Mills Limited (KASE:SUHJ) agreed to acquire Sarhad Textile Mills Ltd. (Colony) from National Investment Trust Limited and others on November 8, 2012. Under the terms of the deal, the share swap ratio is one share of Suhail Jute Mills for every 25.8 shares of Sarhad Textile Mills. The transaction is subject to approval of shareholders of Suhail Jute and and Sarhad Textile Mills and Lahore High court.

The transaction has been approved by the Board of Directors of Suhail Jute. A combined shareholders meeting of Suhail Jute Mills and Sarhad Textile Mills will take place on February 17, 2014 to consider the merger. The meeting of the shareholders of Suhail Jute Mills and Sarhad Textile Mills has been postponed from February 17, 2014, to April 15, 2014.

As of April 15, 2014, the shareholders of Suhail Jute Mills approved the transaction. As on April 15, 2014, the shareholders of Sarhad Textile Mills approved the transaction. The transaction was approved by the Competition Commission of Pakistan on October 20, 2014.

As on March 31, 2016, Lahore High court approved the altered value of Sarhad Textile Mills Ltd. (Colony). Further resolved that the Chief Executive of Suhail Jute Mills Limited and Sarhad Textile Mills Ltd. (Colony) to take all necessary steps in connection with the transaction.