Consortium sweetens Hollysys Automation offer to $17.10

  • The consortium including co-founder and former Hollysys CEO Baiqing Shao, Ace Funds and Chinese P-E firm CPE Funds Management sweetened bid offer to acquire Hollysys Automation Technologies (NASDAQ:HOLI) by 11% to $17.10.
  • The consortium made an offer last Friday.
  • The board earlier rejected $15.47/share take-over proposal citing that the offer undervalues the Company and is not in the best interest of the shareholders.
  • Press Release

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