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

Bremworth coup: group of shareholders wants board sacked
Primary Sector

Bremworth coup: group of shareholders wants board sacked

The group, led by Rob Hewett, believes it has support from 35% of shareholders.

Canadian James Grenon takes substantial NZME stake
Markets

Canadian James Grenon takes substantial NZME stake

An Auckland-based Canadian billionaire previously linked to an alternative news venture has taken a substantial share holding in NZME, the owner of the NZ Herald, Newstalk ZB and BusinessDesk.In a release to the New Zealand Exchange (NZX) on Monday, Canadian private equity tycoon...

Warehouse forecasts another second-half earnings loss
Retail

Warehouse forecasts another second-half earnings loss

Interim CEO John Journee says the company is likely at the bottom of the retail cycle.

Canadian private equity tycoon James Grenon takes NZME stake
Markets

Canadian private equity tycoon James Grenon takes NZME stake

Canadian private equity tycoon James Grenon has taken a 9.321% stake in NZME for “investment purposes”.Grenon, founder and adviser of Calgary-based Tom Capital Management, paid just over $9 million for the stake, which also included buying $786,399 of shares from Karori Capital L...