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Rakon ( (NZ:RAK) ) has issued an announcement.
Bourns, Inc., a major shareholder in Rakon Limited, has increased its stake in the New Zealand frequency control specialist as its cash takeover offer continues to gain traction. The company operates in high-precision timing solutions for global telecommunications and electronic equipment manufacturers, positioning it as a key supplier to critical infrastructure markets.
The latest disclosure shows Bourns now holds or has conditional rights to 201,367,020 Rakon shares, equivalent to 87.624% of the company’s ordinary shares, up from 84.448% earlier in April. The increase stems from additional shareholders accepting Bourns’ NZ$1.55-per-share cash offer, underscoring strong investor support and effectively cementing Bourns’ control over Rakon as the bid progresses toward full settlement.
More about Rakon
Rakon Limited is a New Zealand-based technology company that designs and manufactures frequency control products, including crystal oscillators and related timing components. Its products are widely used in telecommunications, positioning, and other high-precision electronic applications, serving global equipment makers and infrastructure providers.
Average Trading Volume: 111,962
Current Market Cap: N$349.3M
For a thorough assessment of RAK stock, go to TipRanks’ Stock Analysis page.