Bourns, has confirmed that its all-cash takeover offer to acquire all equity securities of Rakon Limited at NZ$1.55 per share or share right is now proceeding to completion.
The offer, made under the New Zealand Takeovers Code, satisfied its conditions after acceptances exceeded 90% of Rakon’s voting rights and all required regulatory approvals were obtained. Bourns confirmed these developments late last week.
The offer was first announced as an intention on January 12, 2026, and formally launched on February 9, 2026, following dispatch of the Offer Document. It was fully funded from Bourns’ balance sheet and not subject to financing or due diligence conditions. The only conditions were the 90% minimum acceptance threshold and receipt of customary regulatory approvals.
During the offer period, Rakon’s three largest shareholders Robinson family interests, Siward Crystal Technology Co. Limited, and Wairahi Investments Limited / Wairahi Holdings Limited, together with Timemaker into lock-up agreements to accept the offer. These accounted for 41.2% of shares on issue. Regulatory approvals were secured in New Zealand, the United Kingdom, and France, including a Commitment Letter in France.
With conditions now met, Bourns has declared the offer will move to formal completion. Shareholders who have accepted will receive payment per the Offer Document, with initial payments made on May 8 and remaining acceptors paid on a batched basis. For those who do not accept, Bourns intends to carry out compulsory acquisition of the remaining shares and share rights under the Takeovers Code.
Bourns stated it will operate Rakon as a standalone division. The company plans to retain Rakon’s global operations, employees, and research and development capabilities. It will support the business through access to capital, global scale, and a complementary product portfolio.
Al Yost, President and Chief Operating Officer of Bourns, said: “From the outset, our intention has been to acquire Rakon as a long-term owner and to support the company’s future growth, and we are extremely excited about our combined future together.” He added that Rakon has a strong history of innovation in timing and frequency technologies and will benefit from stable ownership and the ability to invest through market cycles. Bourns also noted the importance of Rakon’s New Zealand heritage and skilled workforce.
