- The buyer consortium led by Recco Control Technology Pte Ltd and Dazheng Group (Hong Kong) Investment Holdings Company Limited reaffirmed its non-binding indicative all-cash offer of $25 per share to acquire Hollysys Automation Technologies, Ltd HOLI.
- The offer represents a premium of 65.5% over Hollysys' closing share price of $15.11 on July 7.
- The consortium engaged UBS AG Hong Kong Branch as the financial advisor regarding the proposed acquisition.
- The consortium first sent the offer on December 3.
- The state-owned operator of Beijing's railway and the subway had also weighed a takeover bid for Hollysys, valuing it at $1.9 billion.
- Price Action: HOLI shares traded higher by 6.15% at $16.04 in the premarket on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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