Buyer Consortium announces all-cash proposal of $29/share to acquire Hollysys

Buyer Consortium led by Dazheng Group announced it has submitted an increased all-cash offer of $29 per share, or approximately $1.8B, to acquire all outstanding shares of Hollysys Automation Technologies in a letter sent to the Board on December 24, 2023. In addition to Dazheng Group and TFI Asset Management Limited, GA Technologies Limited has agreed to join the consortium. The new member brings the Consortium enhanced credibility and secured financing.