$Hollysys Automation Technologies (HOLI.US)$ 08:05 AM EDT, ...
$Hollysys Automation Technologies(HOLI.US$
08:05 AM EDT, 07/08/2022 (MT Newswires) -- A consortium led by Recco Control Technology and Dazheng Group (Hong Kong) Investment Holdings on Friday reaffirmed its non-binding cash offer to acquire Hollysys Automation Technologies (HOLI) for $25 per share.
The offer, which represents a 65% premium to Hollysys Automation's closing price on Thursday, was initially made on Dec. 3, 2021, and publicly announced on Jan. 24, according to a statement.
"The consortium encourages Hollysys' board to fulfil their fiduciary duties to achieve best interest of shareholders by opening discussions with, and granting due diligence access to, the consortium," the buyers group said in the statement
Recco Control and Dazheng said they have tapped UBS AG Hong Kong as the consortium's financial adviser in the potential deal.
Hollysys shares rose more than 7% in premarket trading on Friday.
Price: 15.89, Change: +0.78, Percent Change: +5.16
08:05 AM EDT, 07/08/2022 (MT Newswires) -- A consortium led by Recco Control Technology and Dazheng Group (Hong Kong) Investment Holdings on Friday reaffirmed its non-binding cash offer to acquire Hollysys Automation Technologies (HOLI) for $25 per share.
The offer, which represents a 65% premium to Hollysys Automation's closing price on Thursday, was initially made on Dec. 3, 2021, and publicly announced on Jan. 24, according to a statement.
"The consortium encourages Hollysys' board to fulfil their fiduciary duties to achieve best interest of shareholders by opening discussions with, and granting due diligence access to, the consortium," the buyers group said in the statement
Recco Control and Dazheng said they have tapped UBS AG Hong Kong as the consortium's financial adviser in the potential deal.
Hollysys shares rose more than 7% in premarket trading on Friday.
Price: 15.89, Change: +0.78, Percent Change: +5.16
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