Hollysys jumps on Reuters report of $1.8 bln take-private deal

Hollysys Automation Technologies

02/09/2022 11:13

** U.S.-listed shares of China's Hollysys Automation
Technologies Ltd  HOLI.O  soar 13.5% to $19.25 premarket
    ** Eyes highest level in 10 months if gains hold
    ** Consortium led by Chinese firm's management plans to take
U.S.-listed automation and control system maker private in a
deal that would value it at $1.8 bln, Reuters reports
 urn:newsml:reuters.com:*:nL1N3090HC
    ** Management, led by founder and CEO Wang Changli, has won
deal endorsement from municipal government in Beijing, where the
Chinese firm is based, report adds
    ** HOLI's U.S. listing has been the subject for potential
deals since at least 2020 
    ** U.S. stock has gained ~20% this year through Thursday's
close

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))