Rakon board urged to gauge major shareholder appetite to sell

Rakon board urged to gauge major shareholder appetite to sell
Rakon's Brent Robinson will play a key role in any deal. (Image: BusinessDesk)
Paul McBeth
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...

More Markets

Jarden sees Mercury, Genesis upside
Markets

Jarden sees Mercury, Genesis upside

Energy margin data points to earnings upgrades for both gen-tailers.

Cooks Coffee continues strong sales growth
Retail

Cooks Coffee continues strong sales growth

The sales growth comes at a time of rapid expansion for the firm.

Scott Tech’s Rocklabs expands Rio Tinto deal
Markets

Scott Tech’s Rocklabs expands Rio Tinto deal

Scott Technology has extended its contract with Rio Tinto, increasing the automation of a third laboratory for the mining giant in Australia.Scott, a New Zealand Exchange-listed industrial automation company, did not provide details on the value of the contract but said the syste...

Ben Moore 10:52am
THL's customer and revenue officer resigns
Markets

THL's customer and revenue officer resigns

New Zealand Exchnage-listed Tourism Holdings announced the resignation of its chief customer and revenue officer, Scott Fahey, on Tuesday morning.Tourism Holdings (THL) said Fahey's departure was because of a personal situation and it agreed to waive his notice period.Fahey h...