-- Rakon (NZE:RAK) said Bourns has received acceptances in respect of more than 90% of Rakon shares, satisfying the minimum acceptance condition under its NZ$1.55 per share takeover offer, with Bourns declaring the offer unconditional, according to a Friday New Zealand bourse filing.
The company said shareholders and holders of share rights who accepted the offer on or before May 1 will be paid by no later than May 8, while those accepting after May 1 will be paid within five working days of Bourns receiving their acceptance.
The offer has automatically been extended under the Takeovers Code and now closes on May 15, given that the minimum acceptance condition was satisfied in the last six working days of the original offer period, the filing added.