Rakon investor raises issues over failed bid

Rakon's takeover talks have fallen over. (Image: NZME)

Mon, 01 Jul 2024

Minority investor Mike Daniel has raised fresh questions about a $400 million bid that was ultimately snubbed by Rakon’s board.The NZ Shareholders Association (NZSA) shares Daniel’s disappointment that millions were spent on takeover talks with nothing to show, but also offered some mitigating factors.In his latest letter to Rakon, Daniel complains about the number of days it took, why there was a "massive value gap" and spending on the process. NZSA chief executive Oliver Mander said there was no obligation to s...

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