Hollysys Automation: To review revised unsolicited takeover bid; shares rise

Hollysys Automation Technologies

01/02/2021 13:40

** Chinese industrial automation equipment maker's U.S.
listed shares  HOLI.O  rise 8% to $15.03 premarket
    ** HOLI says to review a revised unsolicited proposal by a
consortium to buy co's shares at $17.10/shr, a premium of 23% to
co's closing price on Friday  urn:newsml:reuters.com:*:nPn5p3ZNha
    ** In January, HOLI rejected a taker over proposal received
in December from a consortium of largest shareholders, Chairman
Baiqing Shao, Ace Lead Profits Limited and CPE Funds Management
Limited to buy the co' shares for $15.47 apiece in cash
    ** The consortium submitted a revised offer to HOLI's board
on Friday, raising the price to $17.10 per share in cash
    ** Up to Friday's close, HOLI's stock had fallen bout 5%
this year

 (Reporting by Ankit Ajmera in Bengaluru)
 ((Ankit.Ajmera@thomsonreuters.com))