Rakon’s $390m buyout bid collapse sparks market watchdog inquiry

Lorraine Witten is chair of Rakon but didn't run the independent committee appointed for the buyout proposal. (Image: Supplied)

Rebecca Stevenson

Thu, 22 Aug 2024

The failed buyout bid for listed advanced parts manufacturer Rakon has produced a complaint to the market watchdog.Independent regulator NZRegCo confirmed on Thursday afternoon that it was assessing allegations about Rakon’s market disclosures regarding the conclusion of the non-binding indicative offer (NBIO) process.“In line with standard practice, we won’t be providing further comment.”In December, New Zealand Exchange-listed (NZX) Rakon received a $390 million bid for its entire business from a mystery suitor, unders...

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