Rakon board urged to gauge major shareholder appetite to sell

Rakon's Brent Robinson will play a key role in any deal. (Image: BusinessDesk)

Fri, 15 Dec 2023

Rakon’s directors have been urged to test whether the high-tech components maker’s biggest shareholders are willing to sell to the mystery bidder before wasting any more time and money. The company’s board received an unsolicited non-binding offer from a “credible industry player” on Dec 7 to buy Rakon for $390.7 million, or $1.70 a share, almost three times the 61 cents price the shares closed at on Dec 6. The shares jumped when the proposal was made public and slipped 1.7% to $1.18 in late morning tradi...

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