Hollysys Automation Technologies: Jumps on acquisition proposal

Hollysys Automation Technologies

08/12/2020 11:24

** U.S.-listed shares of Chinese industrial automation
equipment maker  HOLI.O  jump 15.5% to $14.4 premarket, set to
open at over five month high
    ** Co receives acquisition proposal from a consortium of 
largest shareholders, Chairman Baiqing Shao, Ace Lead Profits
Limited and CPE Funds Management Limited  urn:newsml:reuters.com:*:nFWN2IN152
    ** Consortium proposes to buy all of HOLI's publicly held
shares for $15.47 apiece in cash 
    ** Offer price represents a premium of 24% to stock's
closing price on Dec. 4
    ** Up to Monday's close, stock had lost ~23.7% this year

 (Reporting by Shivani Kumaresan in Bengaluru)
 ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))