Hollysys Automation gets takeout proposal at $15.47/share

  • Hollysys Automation Technologies (NASDAQ:HOLI) +18.3% post-market after disclosing a preliminary non-binding proposal to acquire all publicly held shares for $15.47/share in cash, which represents a 24% premium to the stock's Dec. 4 closing price.
  • The offer comes from a consortium including co-founder and former Hollysys CEO Baiqing Shao and Chinese P-E firm CPE Funds Management.
  • The group also urges the Hollysys board to take necessary action to render the company's shareholder rights plan inapplicable to the proposal.
  • Hollysys shares "look very attractive from a technical and fundamental perspective," Individual Trader writes in a bullish analysis posted recently on Seeking Alpha.

Recommended For You

Comments (12)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.