A consortium led by Dazheng Group has made an improved offer to buy Hollysys Automation for $29.50 per share in cash, raising its prior bid of $29 per share, people familiar with the matter told Bloomberg’s Manuel Baigorri and Vinicy Chan. Hollysys Automation Technologies previously announced that it will hold an extraordinary general meeting of shareholders on Thursday, February 8, to consider and vote on, among other things, the proposal to authorize and approve the previously announced merger agreement pursuant to which a buyer controlled by Ascendent Capital Partners will acquire all outstanding shares of Hollysys that it does not currently own for $26.50 per share in cash.
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Read More on HOLI:
- Hollysys announces shareholder meeting to vote on Ascendent Capital acquisition
- Hollysys announces end of ‘go-shop’ under merger agreement with Ascendent
- Buyer Consortium announces all-cash proposal of $29/share to acquire Hollysys
- Hollysys to be acquired by Ascendent Capital for $26.50 per share in cash
