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Rakon ( (NZ:RAK) ) has issued an announcement.
Bourns, Inc. has reported that its takeover offer for Rakon Limited has achieved acceptances representing 97.407% of Rakon’s ordinary shares, indicating near-total shareholder support for the acquisition. The high acceptance level strengthens Bourns’ effective control of the New Zealand technology firm and signals an impending transition to majority ownership.
The offer has also secured substantial acceptance across Rakon’s long-term incentive share rights, with most classes above 88% and several at 100%, including rights varied under conditional retention arrangements. This broad uptake among holders of share rights consolidates Bourns’ position across Rakon’s capital structure and reduces residual minority interests, clarifying the ownership landscape for stakeholders as the takeover progresses.
More about Rakon
Rakon Limited is a New Zealand-based technology company focused on frequency control and timing solutions used in industries such as telecommunications, navigation and aerospace. Its shares are listed on the NZX, and it operates under a long-term incentive plan that grants share rights to executive and non-executive participants.
Average Trading Volume: 98,368
Current Market Cap: N$355.1M
Learn more about RAK stock on TipRanks’ Stock Analysis page.