- The state-owned operator of Beijing's railway and the subway weighed a takeover bid for Hollysys Automation Technologies Ltd HOLI, valuing it at $1.9 billion, Bloomberg reports.
- Beijing Infrastructure Investment Co looked to take Hollysys private following a deal based on its preliminary discussions.
- Hollysys offers integrated solutions for industrial automation and rail transport.
- Hollysys has fended off several takeover bids since the end of 2020.
- Hollysys's systems utility in sensitive areas like railways and nuclear power stations could trigger political ramifications considering China's recent tech sector crackdown.
- Price Action: HOLI shares traded higher by 18.20% at $15.83 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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