Bourns Extends Rakon Takeover Offer as Acceptances Climb Past 73%

The latest announcement is out from Rakon ( (NZ:RAK) ).

Bourns, Inc. has extended its full takeover offer for all equity securities in Rakon to 7 May 2026, maintaining a cash price of $1.55 per share that represents a substantial premium to the pre-offer trading level and an EBITDA multiple at or above the upper quartile of comparable global transactions. With UK regulatory clearance secured, New Zealand and French approvals expected, and acceptances already at 73.61% of ordinary shares and 95.70% of share rights, the bidder highlights unanimous support from Rakon’s independent directors and senior management, warning that failure to reach the 90% threshold could see the share price fall back towards or below pre-offer levels.

In the context of softening Rakon earnings guidance and heightened geopolitical, supply chain and funding uncertainty for industrial technology manufacturers, Bourns frames the offer as a chance for investors to de-risk and crystallise value at a “very full” cash price. The company stresses that it can move to compulsory acquisition at the same price if it surpasses 90% ownership, while the absence of competing bids and the acceptance of major cornerstone shareholders underscore the likelihood that this transaction will determine the future control and valuation of Rakon.

More about Rakon

Rakon Limited is a New Zealand-based manufacturer operating in the industrial technology and electronics sector, specialising in frequency control products used in communications, industrial and IoT markets. The company has a volatile earnings history, limited dividend track record, and faces exposure to global supply chain, capital expenditure and execution risks in a challenging macro environment.

Average Trading Volume: 198,406

Current Market Cap: N$343.6M

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