Rakon spent additional $1.7m on acquisition costs; is there another bidder?

Rakon cut 22% of its workforce in the six months to Sept 30. (Image: Rakon)

Thu, 28 Nov 2024

Tech company Rakon spent an additional $1.7 million on legal and consulting costs for an acquisition proposal.The New Zealand Exchange-listed (NZX) advanced parts manufacturer reported a $10.4m loss for the six months to Sept 30 on Wednesday, with revenue falling in its critical telecommunications segment by 51%.Rakon had a $390m takeover bid, understood to be from Nasqad-listed Apple supplier Skyworks, which failed in June and valued Rakon shares at $1.70. Rakon makes frequency control products and timing solutions for industries includin...

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