Brief: Dazheng Group Reaffirms Commitment To Acquire Hollysys At Us$29.50 Per Share

Hollysys Automation Technologies

03/02/2024 17:28

Feb 3 (Reuters) - 
  
    * DAZHENG GROUP REAFFIRMS COMMITMENT TO ACQUIRE HOLLYSYS AT
US$29.50 PER SHARE
    * DAZHENG- URGES SHAREHOLDERS TO VOTE AGAINST PROPOSED
ASCENDENT
TRANSACTION
    * DAZHENG: CONSORTIUM HAS SECURED A DEBT COMMITMENT LETTER
FOR
US$1.05 BLN FROM A REPUTABLE PRC-HEADQUARTERED BANK'S HONG KONG
BRANCH
    * DAZHENG- CONSORTIUM HAS SECURED EQUITY COMMITMENTS
TOTALING
US$800 MLN FROM DAZHENG GROUP ACQUISITION LIMITED AND TFI ASSET
MANAGEMENT LIMITED
    * DAZHENG: CONSORTIUM IS COMMITTED TO CLOSING PROPOSED
TRANSACTION
UNLESS MORE THAN 20% OF HOLLYSYS SHAREHOLDERS EXERCISE
DISSENTING & APPRAISAL RIGHTS

Source text for Eikon:  ID:nBw5mqxH6a 
Further company coverage:  HOLI.F 

 ((Reuters.Briefs@thomsonreuters.com;))