Bourns’ Takeover of Rakon Turns Unconditional After Passing 90% Acceptance

Rakon ( (NZ:RAK) ) has issued an update.

Bourns, Inc. has secured acceptances for approximately 93.06% of Rakon’s shares and 97.89% of its share rights, breaching the 90% threshold required under New Zealand’s Takeovers Code to make its NZ$1.55-per-security offer unconditional. The high level of acceptances positions Bourns to move toward full ownership of Rakon and initiates the path to compulsory acquisition of remaining minority holdings at the offer price.

With all offer conditions now satisfied and formally waived where applicable, Bourns has declared the Rakon takeover unconditional and extended the offer closing date to 11:59 p.m. on 15 May 2026. Shareholders and incentive plan participants who accept during the offer period will receive payment within five working days, while those who wait for compulsory acquisition are expected to face delays, underscoring the pressure on remaining holdouts to tender their securities promptly.

More about Rakon

Rakon Limited is a New Zealand-based technology company whose equity securities, including ordinary shares and long-term incentive share rights, are listed on NZX. The company has been the target of a cash takeover offer by U.S. electronic components maker Bourns, Inc., which has sought to acquire all of Rakon’s shares and share rights at a fixed per-security price.

Average Trading Volume: 105,986

Current Market Cap: N$351.6M

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