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HOLI - Consortium sweetens Hollysys Automation offer to $17.10
Hollysys Automation Technologies Ltd.
The consortium including co-founder and former Hollysys CEO Baiqing Shao, Ace Funds and Chinese P-E firm CPE Funds Management sweetened bid offer to acquire Hollysys Automation Technologies (HOLI) by 11% to $17.10.The consortium made an offer last Friday.The board earlier rejected $15.47/share take-over proposal citing that the offer undervalues the Company and is not in the best interest of the shareholders.Press Release