Rakon Says Bourns Starts Compulsory Acquisition Process After Receiving Acceptances for Nearly 98% Stake
Rakon (NZE:RAK) said Bourns received acceptances under a takeover offer in respect of 97.6% of the shares in Rakon and gave a compulsory acquisition notice, according to a Monday New Zealand bourse filing.The acquisition notice starts the process to compulsorily acquire all the remaining equity securities that were not accepted under the offer, per the filing.Bourns had proposed to acquire all of the equity securities in Rakon for NZ$1.55 per equity security. The price payable under the compulsory acquisition is also NZ$1.55 per equity security.For Rakon shareholders who do not voluntarily transfer their remaining equity securities to Bourns by June 9, Bourns must compulsorily acquire their equity securities by June 16, the filing said.NZ RegCo advised that it will suspend trading in Rakon shares on and from the close of trading on May 25 and delist Rakon on and from the close of trading on May 27.
