Hollysys' rejects going private proposal
Jan. 08, 2021 6:28 AM ETHollysys Automation Technologies Ltd. (HOLI)HOLIBy: Gaurav Batavia, SA News Editor2 Comments
- Hollysys Automation Technologies (NASDAQ:HOLI) board rejects unsolicited offer made by Mr. Baiqing Shao, CPE Funds Management and purportedly on behalf of Ace Lead Profits to take company private for $15.47/share in cash, stating that the offer undervalues the Company and is not in the best interest of the shareholders.
- In another event, certain members of management team expect to purchase shares in an aggregate value of up to US$50 million over a six-month period. Shares purchased will have a voluntary lock-up period of at least 24 months.
- HOLI +3.4% premarket to $15.2
- Source: Press Release