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 3. Rebecca Stevenson




RAKON SALE TO MYSTERY BIDDER FAILS WITH PARTIES UNABLE TO RESOLVE ISSUES

Rebecca Stevenson
Wed, 19 Jun 2024
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Rakon chief executive Sinan Altug said he wasn't worried about the firm's
spending on the failed buyout. (Image: Rakon)
A potential $400 million takeover of advance parts maker Rakon is off, the firm
said on Wednesday.  Rakon fielded an unsolicited bid for its business for $1.70
per share in December and spent $2.2m working on the deal.  Rakon told the New
Zealand stock exchange (NZX) it had been unable to resolve issues the unnamed
bidder raised in May.  Australian media had reported the potential buyer was
Nasqad-listed Apple supplier Skyworks but Rakon said given the strict
confidentiality restrictions that remained in place about the bid it wo...

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