HOLI - Buyer consortium reaffirms $25/share acquisition proposal for Hollysys

• A buyer consortium led by Recco Control Technology and Dazheng Investment announced its proposed acquisition of Hollysys Automation Technologies ( NASDAQ: HOLI ).
• The consortium has hired UBS Hong Kong Branch for its financial advisor.
• Consortium also includes TFI Asset Management and Great Wall Capital who have entered into a memorandum of strategic cooperation with Recco Control Technology and Dazheng forthe acquisition.
• The consortium reaffirms its non-binding indicative all-cash offer of $25/share to acquire Hollysys; offer marks a premium of 65.5% over Hollysys' closing share price of $15.11 on July 7, 2022.
• There is no assurance that any agreement would be reached with Hollysys board for the potential acquisition.

For further details see: