- Buyer consortium led by Recco Control Technology Pte Ltd and Dazheng Group (Hong Kong) Investment Holdings Company Limited disclosed submitting a non-binding proposal to acquire Hollysys Automation Technologies Ltd HOLI in an all-cash transaction.
- As per the proposal, Hollysys shareholders would receive $25 per share in cash, representing a 69.4% premium over Hollysys' January 21 closing price of $14.76.
- Earlier this month, Hollysys appointed founder Dr. Changli Wang as its CEO upon the resignation of Chit Nim (Colin) Sung.
- Hollysys is a China-based company that provides automation and control technologies and products.
- Price Action: HOLI shares traded higher by 10.4% at $16.30 in the premarket session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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