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Hollysys (HOLI) Board of Directors Evaluating Offers From Consortiums

  • January 24, 2022

POTENTIAL DEAL DETAILS

StockHollysys Automation Technologies Ltd.SymbolHOLI
Date Announced08/02/2021Source Press Release
TypeUnsolicited BidAcquiring Company/Person Superior Emerald Limited and Mr. Changli Wang, the founder of the Company

HollySys Automation Technologies Ltd. (HOLIannounced that the Company’s Board of Directors is in the process of evaluating a non-binding offer from Superior Emerald Limited, a company controlled by Ascendent Capital Partners, and Mr. Changli Wang, the founder of the Company.

Update(s):

November 15, 2021: HollySys Automation Technologies Ltd. (HOLI), announced that the Company’s Board of Directors is in the process of evaluating a non-binding offer from Zhejiang Longsheng Group Co., Ltd. and Loyal Valley Innovation Capital Limited (collectively, the “Lonsen Consortium“), to acquire all of the outstanding ordinary shares of the Company for US$24.00 per share in cash. Following the Company’s public announcement on November 2, 2021 regarding the change of the Company’s auditor, the Lonsen Consortium has reaffirmed its interest to pursue the Transaction, subject to due diligence.

January 24, 2022: Recco Control Technology Pte. Ltd. and Dazheng Group Investment Holdings Company Limited, as certain members of the buyer consortium, announced that the consortium submitted a non-binding proposal to acquire Hollysys Automation Technologies Ltd. (HOLI) in an all-cash transaction via a friendly negotiated merger. Under the terms of the proposed acquisition, Hollysys shareholders would receive $25 per Hollysys share in cash.

March 15, 2022: The state-owned operator of Beijing’s railway and subway Beijing Infrastructure Investment Co. is considering a bid for Hollysys Automation Technologies Ltd. (HOLIthat could value the U.S.-traded Chinese firm at as much as $1.9 billion, people with knowledge of the matter said.

July 8, 2022: Buyer consortium led by Recco Control Technology Pte. Ltd. and Dazheng Group Investment Holdings Company Limited announces that UBS AG Hong Kong Branch has been engaged by Recco Control Technology and Dazheng Group as the financial advisor in connection with the consortium’s proposed acquisition of Hollysys Automation Technologies Ltd. (HOLI).

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.